26 Jul 2013
Greece to receive next aid payment on Monday
FXstreet.com (Barcelona) - The European Commission has announced today that the next bailout payment for Greece, worth 2.5 billion euros and blocked on Wednesday, would be released on Monday.
On July 24 the European Commission decided to suspend the payment, as Greece had not fulfilled all the requirements necessary to obtain it. But Antonis Samaras's government managed to close all the pending issues yesterday, including an agreement on the “mobility scheme,” involving massive layoffs in the public sector.
The entire bailout tranche amounts to 5.8 billion euros. Apart from the 2.5 billion euro payment from the EFSF, Greece will receive 1.8 billion euros from the International Monetary Fund, while 1.5 billion comes from the profits from Greek bonds bought by the ECB.
Nevertheless, the Troika asked Greece to implement further measures such as selling a big portion of shares in the country's third-largest bank Eurobank and maintaining the emergency property tax for a longer time.
On July 24 the European Commission decided to suspend the payment, as Greece had not fulfilled all the requirements necessary to obtain it. But Antonis Samaras's government managed to close all the pending issues yesterday, including an agreement on the “mobility scheme,” involving massive layoffs in the public sector.
The entire bailout tranche amounts to 5.8 billion euros. Apart from the 2.5 billion euro payment from the EFSF, Greece will receive 1.8 billion euros from the International Monetary Fund, while 1.5 billion comes from the profits from Greek bonds bought by the ECB.
Nevertheless, the Troika asked Greece to implement further measures such as selling a big portion of shares in the country's third-largest bank Eurobank and maintaining the emergency property tax for a longer time.