ECONOMY

Schaeuble hints three tranches will come by year-end

German Finance Minister Wolfgang Schaeuble said on Tuesday that with aid payments to Greece from the last three quarters due by year-end, euro-area governments need to come up with a suitable “control mechanism.”

“You’ll run up three tranches by the end of the year,” Schaeuble told reporters in Brussels.

“All the more important, then, that we negotiate a suitable control mechanism. And that is among the points for which we’ll be seeking a solution together over the next few days.”

Schaeuble’s comments came after Bild-Zeitung reported that the German government favors disbursing more than 44 billion euros of aid, including unpaid tranches scheduled for the second and third quarters, in one installment.

[Bloomberg]