On Thursday, Eurogroup Chief Jean-Claude Juncker indicated that Athens had done most of what had been asked of it. “Ministers note with satisfaction that Greece took swift and decisive action in the areas of fiscal consolidation, revenue administration, pension reform, financial sector regulation and supervision and growth-enhancing structural reforms,” Juncker said in a statement. He added, however, that creditors would determine in coming days whether “prior actions” demanded of Greece had been transposed into law. Juncker said ministers had given the green light for the eurozone’s crisis fund to issue 30 billion euros’ worth of bonds for use as “sweeteners” for private investors taking part in the PSI. But he said that no more aid would be released until the PSI is completed successfully. It is expected that finance ministers will hold a teleconference call next week to decide upon granting the final approval for the Greek bailout.
The call is likely to be held on March 9, when the Greek government is set to announce the result of its offer to bondholders.