Moscovici says Greece has met conditions for release of loans


The European Union's top economy official says Greece has met all outstanding conditions required to receive more rescue loans to bolster its debt-strapped economy.

EU Economy Commissioner Pierre Moscovici said Monday that Greece has completed the so-called "milestones" needed for the disbursement of an additional 2.8 billion euros ($3.1 billion).

He said "good progress has been made" and that "the 15 milestones, all of them, are now completed."

Moscovici's comments in Luxembourg came as he arrived to brief finance ministers from the nations using the euro single currency on Greece's progress. He said they are likely to endorse the disbursement later Monday.