The Seven Steps For Implementation of October 26 Eurozone Summit Decision

A text of seven necessary steps for implementation of the October 26 eurozone summit decision was distributed to the Cabinet members on Sunday.

The steps are:

1) Disbursement of the 8 billion euros 6th tranche of the 110 billion euro EU-IMF bailout loan to Greece.

2) Immediate commencement and speediest possible completion of the negotiations with the European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) ‘troika’ on the new bailout programme for Greece (also decided at the October 26 summit).

3) The tabling in parliament of the 2012 State Budget before November 20, and its ratification before December 31.

4) Completion of the execution of the 2011 State Budget in the context of the 5th revision of the Memorandum.

5) The taking of all the necessary measures for the secure participation of the Greek banks and Greek social security funds in the procedure provided in the October 26 decision.

6) The formulation of the legal and fiscal prerequisites for implementation of the new private sector participation (PSI) formula.

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