Tags: EU | Greece | Bailout

Greece Meets Conditions for Next Bailout Installment

Greece Meets Conditions for Next Bailout Installment

Friday, 02 March 2018 09:39 AM

ATHENS, Greece (AP) — Greece's Finance Ministry says bailout creditors have backed the release of a 5.7 billion-euro ($7 billion) loan installment later this month after Athens overcame delays in fulfilling conditions for the payment.

In a statement Friday, the ministry said an expert committee assisting Eurozone finance ministers gave its approval at a meeting in Brussels. Payment must now be approved by national parliaments of participating countries.

Creditors have been pressing Greece to speed up the number of online auction of properties with mortgages in default, to ease pressure on banks as the number of non-performing loans is nearly 50 percent of the total value.

Bailout inspectors held four days of talks in Athens this week to start preparations for the final review before the bailout program ends in August.

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Greece's Finance Ministry says bailout creditors have backed the release of a 5.7 billion-euro ($7 billion) loan installment later this month after Athens overcame delays in fulfilling conditions for the payment.In a statement Friday, the ministry said an expert committee...
EU,Greece,Bailout
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2018-39-02
Friday, 02 March 2018 09:39 AM
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