Greece’s New Loan Payout Cleared by Euro Area Signals Optimism
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Euro-area finance ministers blessed the next disbursement of emergency aid for Greece, highlighting the goodwill that led to the unblocking of loans last month for Prime Minister Antonis Samaras’s government.
At a meeting yesterday in Brussels, the euro finance chiefs gave the green light for the payout of 9.2 billion euros ($12.3 billion) to Greece this month. Of the funds, 7.2 billion euros in bonds are for the further recapitalization of Greek banks and 2 billion euros in cash are to cover the government’s budget needs.