Emergency funds to be released for energy market, says official

Greek court officials plan to release 40 million euros ($50 million) in emergency funds to provide liquidity to the country’s cash-strapped energy system and help avert a looming power crisis, a court official said on Tuesday.

The funds, belonging to Greek energy suppliers that went out of business earlier this year, had been frozen as part of a judicial investigation.

“Part of the money will be used to pay electricity producers… because there is a risk of electricity disruptions in the coming days,» a court official who declined to be named told Reuters. [Reuters]