Gov’t drafts contingency plan for bond payout

Gov’t drafts contingency plan for bond payout

 

By Sotiris Nikas

The Finance Ministry has been in a race against time for the last few days in a bid to complete all the prior actions required for the disbursement next week of the next bailout installment amounting to 4.2 billion euros.

The aim is for Minister Yannis Stournaras to go to the Eurogroup meeting of eurozone finance ministers on Monday with all the ministerial decisions and circulars implementing the clauses of the recent multi-bill ready. Still, in association with the country’s creditors, the ministry has drafted an alternative plan that would secure the smooth servicing of all the state’s obligations.