Greece faces another bailout standoff with its creditors

The Daily Roundup

Eurozone ministers may refuse to release further funds as only two out of 15 changes that were a condition of last year’s rescue fund have been implemented. 

EU officials are demanding that Athens pushes on with plans to set up a new privatization fund, sell specific state assets, and reform its civil service. 

After approving a first tranche of 10.3 billion euros this spring, of which 7.5 billion has been released, the 19 Eurozone finance ministers are due to disburse the rest this month, but might withhold payment for the rest of the year. 

The gridlock report came after the head of the ESM said this weekend that Greece should be able to secure at least short-term debt relief measures but only if it began implementing the remaining reforms. 

Debt relief is to be granted in tranches, including short term measures to extend Greece’s debt, with a further reduction due after 2018.