• Euro group decision on loan tranche unlikely Monday
  • Future loan tranches may be broken up into instalments (isn’t that what a tranche is?)
  • Delays in Greek program not due to troika
  • Unlikely to discuss 3rd bail out before Euro election
  • Greek government must stick to its commitments
  • No political negotiation of Greece’s program

Sources quoted by MNI

The funding gap/black hole is expected to come up in the 2014/2015 budget.