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Greece to get 1 bln euros

Greece is likely to receive the 1 billion euros withheld from its May tranche of the second bailout, following the election result that favored pro-bailout parties

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20 Jun 2012

Greece is likely to receive the 1 billion euros withheld from its May tranche of the second bailout, following the election result that favored pro-bailout parties.

Sources in Brussels suggest that the European Commission is in favor of sending the remainder of the 5.2-billion-euro installment to Athens after Greece received just 4.2 billion last month.

At the time the European Financial Stability Facility (EFSF) had deemed that the 1 billion euros was not necessary before June.

Now that the Greek state is desperate for cash, Brussels is inclined to release the extra billion given that the June installment will be delayed until after the planned visit by the representatives of the European Union and the International Monetary Fund, expected by the end of the month.

Source: Kathimerini

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