Eurozone Approves 12 Billion Euro Tranche For Greece
By Ria Novosti
The finance ministers from all 16 Eurozone countries (Eurogroup) on Saturday approved a new tranche in financial support to ailing Greece, the group said in a statement.
Greece is to receive the 12-billion-euro tranche by July 15, the statement said.
The country will be able to receive the tranche after having consolidated its budget by 28 billion euros and increasing its privatization packet to 50 billion euros, which Greek parliament passed last week.
The government is seeking new terms for its $158 billion EU-IMF bailout amid reports that the country might need additional aid.
Athens is planning further measures to save some $33 billion through 2015. The country’s total debt has ballooned to $490 billion.
Tens of thousands of people took to the streets across Greece on Wednesday in a 24-hour general strike in protest against the government’s austerity measures for securing the EU-IMF rescue plan.
