Greece Wins 2.5 Billion-Euro Aid Loan, Buying Time in Crisis
This article is for subscribers only.
Greece won the release of a 2.5 billion-euro ($3.3 billion) loan installment to tide it through the coming weeks, as European governments put off debate over Greek debt relief until after Germany’s election in September.
Euro-area governments approved the payment today on a conference call of senior finance officials, European Commission spokesman Simon O’Connor said, after Greece yesterday took steps to pare public-sector payrolls, meeting the last of 22 conditions set by creditors.