Euclid Tsakalotos

The representatives of Greece's creditors returned to Athens on Monday for the start of the fourth bailout review and had their first meeting with Energy Minister Giorgos Stathakis and Finance Ministry officials. The aim of the creditors and the government is to have the review wrapped up by May, and for the deal on the Greek debt to be completed by June.

Eurogroup President Mario Centeno told the European Parliament on Wednesday that Greece ought to assess and utilize all the mechanisms and tools at its disposal, thereby retabling the precautionary line of credit, as this is one of the instruments available.

Two interventions by European Central Bank President Mario Draghi at Monday's Eurogroup touched a nerve with Finance Minister Euclid Tsakalotos, provoking a rare strong response by the Greek official.

The Greek bonds market has deteriorated further this week following the Eurogroup's decision to postpone the payout of the 5.7-billion-euro bailout tranche to Greece and the disagreement between Finance Minister Euclid Tsakalotos and European Central Bank President Mario Draghi.

Greek Finance Minister Euclid Tsakalotos came away from Monday's meeting of eurozone finance ministers without their approval for the release of 5.7 billion euros in bailout funding.

Greece is close to receiving a new disbursement of loans from its eurozone creditors after having completed most of the required reforms, Reuters reported the head of the bloc's finance ministers as saying on Monday.

Eurozone finance ministers should decide on Monday to disburse the fourth tranche of aid to Greece, France's Finance Minister Bruno Le Maire said.

Greek Finance Minister Euclid Tsakalotos arrived in Brussels for Monday's Eurogroup meeting with all but two of 110 prior actions complete, Kathimerini understands.

According to a compliance report seen by Kathimerini, Greek authorities have enforced 108 structural and economic reforms from a list of 110.

Finance Minister Euclid Tsakalotos is to meet his eurozone peers on Monday for talks in Brussels on the priorities of Greece's final review before August's scheduled bailout exit.

EU officials are also expected to determine when foreign auditors will return to Athens, probably in the last 10 days of this month.

Ratings agency Fitch has upgraded Greece's sovereign credit status as the country heads toward an end to eight years of international bailout programs.

The agency announced late on Friday that it had raised the country's rating from 'B-' to 'B' with a positive outlook, citing Greece's improved adoption of reforms and a path to growth in 2018.