Friday September 19, 2014 Search
Weather | Athens
27o C
19o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Eurozone finance ministers approve Greek aid disbursement

 Stournaras hails 'big day for Greece'

Euro area finance ministers, also known as the Eurogroup, have approved the release of the next aid payment to Greece, Luxembourg Prime Minister Jean-Claude Juncker told reporters Thursday in Brussels.

He said money should start flowing as soon as next week.

The Eurogroup agreed to immediately disburse 34.4 billion euros in bailout funds for Greece.

Of this, 16 billion will go towards bank recapitalization, 7 billion for budgetary financing and 11.3 billion to finance Greece's buyback program, which was completed this week.

The disbursement agreed to today will allow for liquidity to flow back into the Greek economy, European Union Economic and Monetary Affairs Commissioner Olli Rehn said at a press conference.

"This is a big day for Greece," Greek Finance Minister Yannis Stournaras told journalists after the meeting.

The Greek government this week said it plans to pay 11.29 billion euros to buy back 31.9 billion euros of bonds to reduce its debt burden and retain the support of the EU and the International Monetary Fund. The buyback underscores a move away from the austerity-first measures European leaders have embraced since the financial crisis began in 2009.

To repurchase all the debt tendered, Greece needed approval to spend more than the 10 billion-euro loan from Europes bailout fund earmarked for the buyback. [Kathimerini, Bloomberg]

ekathimerini.com , Thursday December 13, 2012 (13:28)  
Police, protesters clash during rally to mark Fyssas killing
Prescription limit to rein in EOPYY spending
Prosecutor says six guilty in trial of terror group
Minister vows to proceed with civil servant evaluation after court ruling
Local lenders draw 5 bln for loans to SMEs
Greek banks drew liquidity of some 5 billion euros from the European Central Banks TLTRO program aimed at channeling funding to small and medium-sized enterprises in the first auction compl...
Tourism drives jobless rate down
The growth of tourism this year has had a clear impact on unemployment in Greece as the jobless rate announced on Thursday by the Hellenic Statistical Authority (ELSTAT) for the second quart...
Inside Business
SOCCER
Triumph for PAOK, historic result for Asteras in Europa League
Greek teams produced a patchy record on the opening night of the Europa League group stage on Thursday, as PAOK thrashed Dynamo Minsk, Asteras Tripolis snatched a draw at Besiktas and Panath...
SOCCER
Financial crisis forces Greek second division postponement
Greece's second soccer division Football League announced on Wednesday the postponement of the start of the season due to financial difficulties being faced by most clubs. "The board of dire...
Inside Sports
COMMENTARY
High stakes after the Scottish vote
We will soon know whether the Scots voted for their countrys independence or whether they will remain citizens of the United Kingdom of Great Britain and Northern Ireland. What was alread...
COMMENTARY
Greek societys and lenders fatigue
The issue of early elections continues to dog the coalition government despite all the official denials. That the administration is losing its cool is obvious. The political discourse has no...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Triumph for PAOK, historic result for Asteras in Europa League
2. Local lenders draw 5 bln for loans to SMEs
3. Tourism drives jobless rate down
4. Hardouvelis asks for some room to breathe
5. Athens could miss out on last bailout installment
6. Police, protesters clash during rally to mark Fyssas killing
more news
Today
This Week
1. SYRIZA ahead of ND, new opinion poll shows
2. Extradited Greek couple to face magistrate in Athens
3. National Bank of Greece said to pick advisers for Turkish sale
4. Man's charred remains retrieved from vehicle following accident
5. Unemployment at 26.6 percent in second quarter of 2014
6. Bank of Cyprus sells UK loan portfolio
Today
This Week
1. Greece on standby
2. Greece at bottom of social justice scale among EU28
3. Central Athens traffic restrictions back in force on Monday
4. Lost in the fog
5. Democracy under Pressure | Live Streaming
6. SYRIZA spokesman suggests gov't sought to stop NERIT airing Tsipras speech live
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.