The Eurogroup has finalised its discussion regarding the second review of Greece's macroeconomic adjustment programme, which is financed by the European Stability Mechanism (ESM). Meeting on 15 June, euro area finance ministers welcomed the adoption by Greece's parliament of the prior actions agreed upon on 2 May 2017. The reform measures cover areas such as pensions, income tax, the labour market as well as the financial and energy sectors. They should make Greece's medium-term fiscal strategy more robust and support the growth-friendly rebalancing of the economy. Against this background, IMF management will shortly recommend that the IMF Executive Board approve in principle a new, 14-month Standby Arrangement for Greece. Moreover, subject to the completion of national procedures authorising the disbursement, the ESM will be able to proceed with the next tranche of financial assistance to Greece amounting to EUR 8.5 billion. At the meeting, finance ministers also exchanged views on the quality of public finances, following up on a September 2016 discussion during which they endorsed common principles to guide national spending reviews.