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Euro Area May Release Greek Bank Money Next Week If Pledges Met

  • Dijsselbloem says Greece needs to finish financial milestones
  • Greece asked to pass measures on non-performing loans
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Greece could receive 10 billion euros ($10.8 billion) for bank recapitalization as soon as next week if it can complete its financial-sector milestones on time, euro-area finance ministers said after a meeting in Brussels Monday.

The so-called Eurogroup asked Greek authorities to finalize financial-sector measures and legislation agreed under a set of milestones this week, according to a statement. That would unlock the disbursement of 2 billion euros by the European Stability Mechanism “and a transfer of funds needed for the recapitalization of the Greek banking sector.”