Belfast Telegraph

Home News World

Greece set for bailout funding

Debt inspectors from the European Union, European Central Bank and International Monetary Fund have said Greece is expected to receive the next instalment from a 110 billion euro (£98 billion) bailout fund in July.

The three, known as the troika, made the statement after a near month-long inspection of Greek finances and the reforms it is implementing to meet the terms of the bailout.

The review said Greece had achieved "significant progress," but that further measures were needed.

In Luxembourg, Jean-Claude Juncker, the head of the 17 eurozone finance ministers, said he expected Greece's euro partners to stump up more money and that the private sector will be asked to help out on a voluntary basis.

Mr Juncker had been meeting Greek Prime Minister George Papandreou.


From Belfast Telegraph