Print Edition - 2017-07-06  |  Money Digest

EU delays Greece bailout payment


Jul 6, 2017-

Eurozone finance ministers delayed the latest bailout disbursement to Greece on Wednesday awaiting clarification on a legal case against European experts who had worked on the Greek privatisation programme. While officially approving the latest raft of reforms, eurozone finance ministers in a conference call put off the payment of 8.5 billion euros ($9.5-billion) from Greece’s massive bailout. The eurozone finance ministers “encouraged the Greek government to resolve the pending issues swiftly,” a statement from the European Stability Mechanism, the eurozone bailout fund, said in a statement. This would “pave the way for the approval of the third tranche” from the country’s 86-billion euro bailout, agreed in 2015. Senior eurozone officials would meet again by teleconference on Friday in hopes of releasing the funds, instead of Wednesday as originally planned, the statement said.

Published: 06-07-2017 09:24

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