FinMin Stournaras certain of disbursement of rescue loan tranche

Finance Minister Yannis Stournaras has expressed certainty that the new government will be supported by more political forces and that in parliament it will enjoy more votes than the total number of New Democracy and PASOK parties’ deputies.

Addressing a Eurobank Investor Forum, entitled "A new beginning for Greece’s economy," on Tuesday, the minister said Greece now has a new government that is fully committed to reforms and the necessary changes, as the two parties that support it are fully aware that stagnation equals disaster.

Stournaras spoke of mistakes in the implementation of the fiscal programme, both from the Greek side and by the troika of its international lenders, but argued however that "the way in which we are now seeking to remain in the eurozone is, in my opinion, more effective under the present circumstances and with the least cost to the population and mostly the lower incomes."

Referring to the imminent return to Athens of the heads of the troika, Stournaras said that the two rescue loan tranches totaling 7.5 billion euros which were disbursed in May and June "were clear confirmation that Greece is doing well, which was also recognized by the recent European Commission and IMF Progress Report for the second fiscal programme."

The finance minister added that the next tranche of 8.1 billion euros is expected to be released towards the end of July, provided the country fulfills certain prerequisites. He said a tranche of 3.3 billion euros was already deposited on Tuesday in a special account with the Bank of Greece.

Source: Athens News Agency