FXstreet.com (Barcelona) - The EU, ECB and IMF inspectors announced on Monday that an agreement had been reached with Athens on new austerity measures and that the Eurogroup should give the green light to the release of the next tranche of aid for Greece later today.

Troika representatives have reached “staff-level agreement, ad referendum, with the authorities on the economic and financial policies needed to ensure the programme is on track to achieve its objectives,” according to the official document. They see the country returning to growth in 2014, but they stress that the outlook remains uncertain.

“While important progress continues to be made, policy implementation is behind in some areas,” they point out, adding however that “the authorities have committed to take corrective actions to ensure delivery of the fiscal targets for 2013-14 and achieve primary balance this year.”

The Eurogroup is expected to approve the release of the next bailout tranche for Greece at the meeting scheduled for this afternoon.




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