Greece: overnight agreement with official creditors paves the way for the release of €12bn loan installment | Eurobank
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Greece: overnight agreement with official creditors paves the way for the release of €12bn loan installment

Positive news on the domestic front overnight as the government reached agreement with the representatives of the institutions (EC/ECB/ESM/IMF) on a number of prior actions required for the release of the next ESM loan instalment. This consists of €2bn to be mainly used for servicing public debt and €10bn for recapitalizing domestic banks. Coming on the heels of the better than expected flash Q3 GDP report , the deal is expected to facilitate the timely completion of the recapitalization of Greece’s four systemic banks, a key precondition for the eventual stabilization of domestic financial and macroeconomic conditions (for full report, please see attachment).