Monday’s Eurogroup to ratify May and June tranches totalling 7.4 billion euros

19:37 9/5/2013 - Πηγή: Matrix24

The disbursement of the first tranche of 3 billion euros to Cyprus will also be decided on Monday.

According to the same official, the duscussion between the Finance ministers of the euro will focus on the assessment of the troika, that will be ratified,

while, as the official clarified, the decision will be a joint one for the two tranches, totalling 7.4 billion euros. There are no other preconditions to be fulfilled for the two tranches to be disbursed, the same official said.

However, the European official stressed that the challenges remain the same for the Greek programme and concern the reforming of public administration, and mainly the taxation reform.

The official underlined that an effective taxation authority is required and pointed out that the government hired a tax revenues General Secretary. However, he said that for the undertaking to be completed successfully, there must also be a will on the part of certain classes of the population.

As regards Cyprus, a review of the course of the adjustment programme will take place at Monday’s session and the political decision will be taken on the disbursement of the tranche for 3 billion euros.

The priorities are clear, according to the official and concern the reforming and restructuring of the fiscal system and the gradual lifting of restrictions in the movement of capital.

Source: AMNA

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