Greece Wins Release of Aid, Stays Lashed to Tightness
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European governments agreed to release 3 billion euros ($3.9 billion) of aid for Greece, seeking to buy enough financial calm to prevent another debt-crisis showdown until after Germany’s elections in September.
Greece will get 2.5 billion euros this month and the rest in October, as long as Prime Minister Antonis Samaras’s tottering coalition delivers on economic reforms and cuts to spending. It can also count on recouping 2 billion euros in central bank profits on Greek bonds and on 1.8 billion euros from the International Monetary Fund. Bonds advanced today.