ESM Board of Directors

The 10th post-memorandum evaluation report of the Greek economy is expected to be presented during today's Eurogroup meeting in Luxembourg, which will be attended by Finance Minister Christos Staikouras.

Therefore, Greece is expected to take another step towards a positive direction, as another evaluation is successfully completed.

The eurozone bailout fund ESM decided on Friday to hold off the disbursement of a 1 billion euro loan tranche for Greece to wait for confirmation from Athens it fulfilled the condition of arrears clearance for the release of the money.

An ESM spokesman said Greece made satisfactory progress to meet the conditions for the release of the loan but not quite.

The board of the European Stability Mechanism approved the release of a third tranche of bailout funds to Greece worth 8.5 billion euros  on Friday, the ESM said on Twitter.

"ESM Board of Directors just approved the 3rd tranche of 8.5 billion euros of ESM financial assistance to Greece; details will follow," read the tweet from the Luxembourg-based euro zone bailout fund.

The European Stability Mechanism (ESM) is currently working on proposals for the implementation of the short-term measures agreed upon for the Greek debt relief, said German Finance Ministry spokesperson Dennis Kolberg. “The EuroGroup agreed on May 24, 2016 for the adoption of short-term measures on the debt after the completion of the first review.

By Eurogroup Chief and Dutch PM Jeroen Dijsselbloem at the Eurogroup Press Conference on December 7

Good evening everyone and welcome to this press conference. I was going to say that we’ve had busier turnouts – looking at the audience tonight – but it makes sense, because we also had a short Eurogroup meeting.

Greece has done all the reforms in the a first package of measures agreed with eurozone creditors, which paves the way for Athens to get the next tranche of loans, the head of eurozone finance ministers Jeroen Dijsselbloem said on Nov. 21.

The Eurogroup Working Group (EWG reviewed Greece’s progress on reforms on Saturday and gave a positive compliance reforms that allow the disbursement of the 2-bln-euro tranche benchmarked for Greece.

Read the Friday Eurogroup statement released after an agreement approving the 3rd bailout for Greece was reached in Brussels, Friday: