Eurogroup gives the "green light" for the first loan installments

Greece will activate the CACs for bonds under Greek law. With this statement, immediately after the teleconference of the Eurozone finance ministers, the chairman of the Eurogroup, Jean-Claude Juncker confirmed what had been largely assumed since this morning, when he officially announced the PSI+ result.

Immediately after the teleconference, the Eurogroup chairman announced that the Finance Ministers of the 17 member states approved the release of 35.7 billion euros from the second stimulus package for Greece, which in total amounts to 130 billion.

In the statement issued after the end of the Tele-Eurogroup, the ministers noted that they have completed the prerequisite steps for the second bailout and asked Greece “to continue to show a strong commitment to reform”, emphasizing that “they expect a significant participation from the IMF to finance the new Greek program”.

Based on this data, the disbursement of the first installment of the second package to Greece is expected to begin in the next few days, since on the 14th there will be a Working EuroGroup in order to confirm the timetable of of the new loan program of 130 billion and on the 15th of March there will be a convening of the Executive Board of the IMF.

In a statement, the IMF itself welcomed the cooperation and participation of the private sector in the exchange program of the Greek debt. At the same time, they spoke of an important step in reducing the medium-term financial needs of the country, expressing expectations for growth and economic stability in Greece.