Thursday November 20, 2014 Search
Weather | Athens
19o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece to get next bailout loan in three parts, finance ministers decide

By Elena Becatoros & Derek Gatopoulos

Jeroen Dijsselbloem, the Dutch finance minister who chairs the meetings of his eurozone peers, says Greece will receive its next 8.3-billion-euro ($11.4 billion) bailout installment in three parts.

The decision comes after the completion of a review by Greece's international debt inspectors of the country's reforms. Continued funding from the bailout by other European countries and the International Monetary Fund depends on these reviews.

Speaking after a finance ministers' meeting in Athens, Dijsselbloem said the first part of the current installment of rescue loans would be disbursed at the end of April, in time for Greece to meet a bond redemption in May. The rest of the rescue loans will be paid in June and July.

The amount does not include the IMF portion of the installment, which is paid separately.

Finance ministers from the European countries that use the euro currency were meeting in Athens Tuesday, with discussions to include how to pay out delayed bailout installments to Greece and how to ease Portugal out of its rescue program.

Both financially stricken countries have received multi-billion-euro bailouts from other European countries and the International Monetary Fund and have implemented a series of fiscal reforms in return, with their economies under strict supervision by international debt inspectors.

Security for the meeting was tight, with protests banned in much of central Athens. Unions and political youth groups plan demonstrations just outside the exclusion zone Tuesday evening.

The eurogroup meeting is to be followed by a broader gathering of all European Union finance ministers later in the day and on Wednesday, with talks to center on the social impact of the crisis, the EU's growth and financial stability, and banking union among other topics.

Greece, which has suffered the deepest and most prolonged financial crisis of the 18-member eurozone, hopes for a positive assessment from the eurogroup on progress made in reforms. A review by the debt inspectors from the International Monetary Fund, European Central Bank and European Commission, collectively known as the troika, ended last month. [The Associated Press]

ekathimerini.com , Tuesday April 1, 2014 (13:32)  
Reports point to economic recovery but also the risks
Greek stocks continue rise at slower pace
Parliament to vote for 2015 budget on Dec 7
Eurozone business growth slower than thought as orders fall, survey shows
Greek police investigating suspected ISIS gun supply routes
Greek police are investigating reports according to which criminal rings are transporting weapons from Albania to Jihadists involved in Islamic State activities in Syria via Greece, Kathimer...
Venizelos, Papandreou agree to disagree over PASOK
PASOK leader Evangelos Venizelos is due to meet former Prime Minister Costas Simitis on Friday as he continues his efforts to generate a greater sense of unity in his party after holding tal...
Inside News
SOCCER
Super League in disarray, lockout continues
The situation in Greek soccer is going from bad to worse, with accusations flying between club officials, the head of the Super League announcing he will quit on Monday and the leagues remai...
SOCCER
More of the same as Greece loses to visiting Serbia
Dubbed the friendly game that no one wanted, Serbias 2-0 victory over Greece at Hania on Tuesday will not stay long in the memory of most Greek fans, except perhaps that of the 3,500 supp...
Inside Sports
COMMENTARY
Who lost Greece?
If, by unhappy chance, Greeces efforts to create a more efficient economy and more just society should fail, if it turns out that all our sacrifices were in vain, who will be to blame? The ...
COMMENTARY
Suicidal moves
In a country of complete inertia where virtual reality reigns supreme ranging from Greece exiting the crisis to the countrys absolute destruction the arbitrary dissemination of rumors r...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Reports point to economic recovery but also the risks
2. Greek police investigating suspected ISIS gun supply routes
3. Greek stocks continue rise at slower pace
4. Venizelos, Papandreou agree to disagree over PASOK
5. Last-ditch effort being made to close landfills
6. Greek MPs say GD official should stand trial over Baltakos video
more news
Today
This Week
1. Current account surplus widens in September
2. House committee says LAOS chief should face charges
3. Papantoniou second pothen esches trial postponed
4. Greeks not satisfied with living conditions, work, study finds
5. Evros municipalities damaged by floods
6. Teleconference for Hardouvelis and troika on Thursday
Today
This Week
1. Skeleton found at Amphipolis tomb site
2. Unlooted tomb discovered in Aigai necropolis
3. Double quake on Atalanti fault line rattles Greek capital [Update]
4. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
5. Constructively disrupting the Greek start-up ecosystem: What will the impact be?
6. Anti-junta uprising anniversary to be marked amid tight security
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.