BRUSSELS – The European Commission has confirmed that the payment of 7.16 billion to Greece was made, and this bridge loan will pay off the arrears to the IMF and the deadlines to the ECB. The 7.16 billion of euro will be used to cover the financial requirements until mid-August. Meanwhile, the Greek authorities and representatives of the Troika will have to agree the new Memorandum containing the reforms to be done over the next three years.
Once finalized the document will be submitted again to the Eurogroup and then again once the six national parliaments that have to express themselves on all matters related to the budget, and therefore also on decisions involving the bailout fund ESM. Meanwhile, they know the EU sources, in collaboration with the Greek authorities is already in full swing. Yesterday was held a teleconference between representatives of the Government and those of the Troika, and the Greeks said they had already worked on the texts of the two reforms that Parliament must approve Wednesday, that the transposition of the Directive on the ‘resolution’ ordered banks (BRRD) and the adoption of the Code of Civil Procedure.
The text of BRRD was also sent to Brussels so that it controlled the writing. The negotiations for the writing of the new Memorandum will be completed by mid-August, in order to have the first outlay by August 20, when expire 3.5 billion to be paid to the ECB.
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