Reuters: US Dollar Report: EU/IMF troika expected in Greece Mon for bailout terms update

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EU/IMF troika expected in Greece Mon for bailout terms update Jun 21st 2012, 21:49 LUXEMBOURG, June 21 | Thu Jun 21, 2012 5:49pm EDT LUXEMBOURG, June 21 (Reuters) - Inspectors from the International Monetary Fund, the European Central Bank and the European Commission are expected to return to Athens on Monday to review reform progress and prepare ground for an update of the terms of the Greek bailout. Greece secured a 130 billion euro bailout from the euro zone and the IMF in February, but two rounds of general elections since then have stalled the implementation of reforms that underpin the emergency lending programme. "We expect the new government to invite the (EU/IMF) troika to Athens next Monday because we do think they are in an urgent situation and all the procedures need to be speeded up," the president of the Eurogroup of euro zone finance ministers, Jean-Claude Juncker, told a news conference. "They will take stock of the situation. On the basis of the guidance we seek, a full troika mission will go to Athens with a view to reaching an agreement on the conditionality that should be reflected in an updated memorandum of understanding," he said. "This includes an agreement on the measures of prior actions to be implemented before the next disbursement can take place," he said. Juncker added that the European Financial Stability Facility (EFSF), the euro zone's temporary bailout fund, would disburse to Greece by the end of June some 1 billion euros from a tranche agreed on by finance ministers in May.

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