While Greece battles with creditors over new bail out payment, two European Officials told Wall Street Journal that Eurozone's Finance Ministers will not release $2.15 billion of funding for Greece on Monday's Eurogroup.
“Senior officials from the currency union’s finance ministries were updated on Greece’s implementation of around 50 promised overhauls, known as milestones, during a conference call Sunday afternoon. While progress has been made on some issues—including measures to substitute a tax on private education, the governance of the country’s bailed-out banks and the treatment of overdue loans—Athens and its creditors will need more time to sign off on all overhauls, the officials said” the WSJ reports.
Earlier today, French Finance Minister Michel Sapin, offered Athens his support and told media in Paris that he hopes an agreement can be reached today.
Athens and its lenders remain divided over new laws to repossess houses from people who are deep in arrears on their mortgage payments. The creditors insist that Greek houses valued above 120,000 euro should be covered by the foreclosure laws, down from the current level of 200,000 euro.
Greek economy minister, George Stathakis told Greek media that the negotiations with the creditors on the issue of protecting primary residence “has closed its cycle” and that the EZ government should now take “a political decision” over the disbursement of the 2 billion loan.