BUSINESS

Greece to get up to 15 billion euros after third bailout, says German official

MICHAEL NIENABER

TAGS: Economy, EU

Greece will likely get up to 15 billion euros for stabilization after its third bailout program ends in August so it does not have to borrow from the market, a senior German government official said on Tuesday.

The money will be taken from unused funds made available in Greece’s bailout, the official said.

Germany did not consider a contribution of 1.6 billion euros from the International Monetary Fund (IMF) as compulsory, the official added.

Additional measures for Greece must be approved by the budget committee of Germany’s Bundestag, the official said, adding that a vote on the matter by the lower house could be ruled out. [Reuters]

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