Troika to approve next tranche of the loan, Greece’s last chance
According to press reports citing two IMF officials, the Troika, after the announcement of the €2bn of extra measures on Sunday by the Greek Finmin, is ready to approve the disbursement of the €8bn next tranche of the loan to Greece. However, the officials warned that this is Greece's last chance, as the disbursement the 7th tranche on December will be much more difficult, if the government misses the budget targets again. The officials reportedly dismissed any talks on Greece exiting the Eurozone, while Greece should fulfill its promises, especially on reducing public sector and fighting tax evasion. ECB VP Constancio also said yesterday that he is confident that Greece will take the necessary steps to get a positive review from the Troika and secure the next tranche of the loan. The quick disbursement of the next tranche seems vital, as according to the Deputy Finmin Sachinidis, Greece has enough cash to operate until October. European Council President Van Rompuy said that fiscal consolidation measures announced by the Greek government on Sunday seem positive, while noted that the Troika will resume talks with the government on Monday. Finally, an EC spokesman dismissed all scenarios on Greece leaving the Eurozone, while the situation in Greece will be discussed at the end of the week at the informal Ecofin meeting.