Euro zone finance ministers agreed on Saturday to disburse the next, 12 billion euro ($17.4 billion) tranche of emergency loans to Greece, provided that the board of the International Monetary Fund approves it too.
Here are challenges and deadlines that Greece will need to meet in coming weeks as it tries to avoid defaulting on its debt:
FRIDAY, JULY 8
— IMF board is expected to meet to approve the next aid tranche for Greece, with disbursement by July 15. Greece appeared to meet remaining conditions for approval last week when its parliament passed a medium-term austerity plan.
Euro zone finance ministers meet in Brussels, followed by a meeting of all European Union finance ministers on July 12. The euro zone ministers are expected to discuss the parameters of a new international bailout plan for Greece, which will supplement the 110 billion euro bailout launched in May last year. The new package will include additional official loans and a voluntary rollover of Greek debt by private investors.
FRIDAY, JULY 15
— Six-month Greek Treasury bills worth 2.4 billion euros mature.
FRIDAY, JULY 22
— Three-month Greek T-bills worth 2 billion euros mature.
FRIDAY, AUGUST 12
— Six-month Greek T-bills worth 480 million euros mature.
FRIDAY, AUGUST 19
— Three-month Greek T-bills worth 2.0 billion euros mature.
SATURDAY, AUGUST 20
— A 5.9 billion euro, 3.9 percent five-year Greek government bond matures.
MID-SEPTEMBER
Euro zone finance ministers plan to finalise the second bailout of Greece by mid-September, Greek Finance Minister Evangelos Venizelos said.
THIS AUTUMN
— Greek Prime Minister George Papandreou has announced a referendum will be held this autumn on Greek electoral and political changes, including the responsibilities of ministers. This could develop into a de facto test of support for the government and austerity. (Writing by David Cutler of London Editorial Reference Unit and Renee Maltezou in Athens; Editing by Andrew Torchia)
