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Eurogroup releases Greek aid tranche | Business News | DW.DE | 13.12.2012

The eurozone finance ministers have given the green light to disbursing the next installment in the Greek aid package, ending weeks of discussions. The money will help Greece stay afloat into next year.

Debt-laden Greece would receive 34 billion euros ($45 billion) this month, followed by additional aid to the tune of 15 billion euros during the first quarter of 2013, the so-called Eurogroup, comprising the 17 eurozone finance ministers, announced Thursday.

The disbursement will come from the EU rescue fund, ESM, and will help Greece reduce its huge debt to 124 percent of gross domestic product (GDP) over the next decade.

by In Wales (inwales aaat eurotrib.com) on Thu Dec 13th, 2012 at 01:08:21 PM EST
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