Arab Today, arab today eurozone approves bailout payment to greece
Last Updated : GMT 10:54:12
Arab Today, arab today
Arab Today, arab today

Eurozone approves bailout payment to Greece

Arab Today, arab today

Arab Today, arab today Eurozone approves bailout payment to Greece

European Commissioner of Economic and Financial Affairs
Luxembourg - AFP

Eurozone finance ministers agreed on Thursday to unlock 7.5 billion euros ($8.4 billion) in urgently needed cash for Greece, saving Athens financially for a few months.

"This is a welcome breath of oxygen for the Greek economy," said the European Union's top economic affairs official, Pierre Moscovici, after a meeting with the 19 ministers from the countries that use the euro.

The ministers met in Luxembourg and officially unblocked the money that will allow the Greek government to meet two huge debt payments to the European Central Bank next month.

The technical decision to disburse will be taken by senior officials on Friday, with money expected in the government coffers in Athens next week, said Klaus Regling, the head of the European Stability Mechanism that manages Greece's bailout payments.

The ministers last month agreed in principle to unlock the aid, the windfall for completing the first formal review of its 86-billion-euro bailout programme agreed last July.

But the leftist government in Athens still had to deliver on some last reforms, including a revamped plan on long-delayed privatisations.

The eurozone and IMF head Christine Lagarde, who attended the talks, remained divided on how to move forward with the bailout.

"The IMF is not engaged in a programme with Greece," Lagarde told reporters after the talks.

The IMF has said it won't give a penny to the third bailout until it sees a concrete plan from the Europeans to substantially cut the Greece's massive debt burden.

The Washington based IMF has made reducing that debt a condition for its continued participation in the bailout programme, despite opposition from powerful Germany to giving Athens more favours.

"For us to be engaged... a debt operation would have to be assessed," added Lagarde, a former French finance minister.

Eurogroup head Jeroen Dijsselbloem said: "As far I am concerned, we are going to do it together."

The payout comes a day after thousands of Greeks protested in Athens over new cuts imposed by Prime Minister Alexis Tsipras in return for the bailout.

Re-elected last year on a pledge to fight austerity, Tsipras instead brokered Greece's third bailout with its EU creditors that required fresh tax hikes and a controversial pension overhaul.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozone approves bailout payment to greece Arab Today, arab today eurozone approves bailout payment to greece

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozone approves bailout payment to greece Arab Today, arab today eurozone approves bailout payment to greece

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday