According to the Euro Commission’s representative Mina Andreeva, European Stability Mechanism (ESM) may decide to grant Greece another 1 billion euros with the first tranche of the new bailout package.
Andreeva said that Greek authorities have done all the necessary steps to complete the second set of measures required by the institutions for the final assessment. If this assessment is positive, the EMS management panel will conduct a meeting on the remaining tranche of 1 billion euro by December 25.
The third bailout, in line with which Greece is to get 86 billion euros of loans, was approved on August 19. The money is provided only by the ESM.
The first tranche of the new bailout accounted for 26 billion euros. Greece received 13 billion euros by the end of August and 2 billion euros in November. In addition, 10 billion euros are reserved to recapitalize the banks. As a result, there’s only 1 billion dollars left which should be disbursed this December.