Greece Gets Aid Infusion as EU Counts on Tsipras for Reforms
- ESM approves payment of 2 billion euros after milestones met
- EU's Dombrovskis says bank decisions due within weeks
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Greece unlocked more of its rescue funds as the euro area called on Prime Minister Alexis Tsipras to maintain his nation’s commitment to meeting its bailout requirements.
In the first aid payment since August, when Greece secured an 86 billion-euro ($92 billion) third rescue, fellow euro-area governments on Monday approved a 2 billion-euro disbursement from the European Stability Mechanism firewall fund. This allows Greece to turn its attention to recapitalizing its banks and releasing another 1 billion euros in rescue funds before the end of the year.