ECONOMY

EU decision on Greece delayed till Friday

Greece will have to wait until the end of the week for a decision on its next installment of euro-area bailout aid, as one of 22 conditions for the payment remains unfulfilled.

The German Finance Ministry said Greece will probably meet the last requirement tomorrow for a payment of 2.5 billion euros endorsed by euro-area finance ministers earlier this month.

Senior euro-area finance officials discussed the aid payment on a conference call on Wednesday, and will hold another call on Friday morning, according to EU officials who requested anonymity because the decision hasn’t been made public. Greece needs to fulfill a requirement on labor mobility, they said.

The remaining condition is for Greece to “issue all necessary legal acts in order to place 4,200 employees in the labor mobility scheme,” according to a document obtained by Bloomberg News. The document, dated July 22, specified Greece needs to confirm the numbers to complete the requirement.

[Bloomberg]