The Eurogroup meeting held on March 11 postponed the 1-billion-euro tranche of returned bond profits to Greece. The installment has been postponed due to open issues, such as the law on the protection of primary residences.
The lack of agreement on the “home protection framework” to succeed the current law known as the “Katseli Law” was the main reason for the delay. European Commission Vice President Valdis Dobrobowsky said that there was some progress made last week but still not enough to justify the release of the disbursement.
In total 16 prerequisites had to be made, however three still remain open.
The green light was not given, however a positive climate was noted with the euro finance ministers agreeing that all commitments have been met and the way has been paved for the release of the funds at the Eurogroup meeting in Bucharest on 5 April.