Business

Greece finally secures new bailout payout

by fm

26th July 2013

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1 min read

Officials working for euro zone finance ministers signed off on the payment of the next batch of aid for Greece on Friday and the money will be disbursed on the approval of member states on Monday, euro zone officials said.

"Approval is now given, national procedures will be finalised by Monday noon," one senior euro zone official said.

Greece adopted on Thursday the last piece of legislation international lenders required to unlock 5.8 bln euros of aid from the euro area, its national central banks and the IMF.

Deputies of euro zone finance ministers approved the payment at a conference call early on Friday.

Germany this week postponed signing off on the disbursement until next Monday to ensure all conditions are met, but officials said German approval was now a mere formality.