Eurozone ministers strike deal to release funds to Greece


German Finance Minister Wolfgang Schaeuble (L) and Greece Finance Minister Euclid Tsakalotos (R)Image copyright
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German Finance Minister Wolfgang Schaeuble (L) and Greece Finance Minister Euclid Tsakalotos (R)

Eurozone ministers have struck a deal to unlock the latest tranche of Greece’s bailout cash.

The bailout fund will disburse 8.5bn euros (£7.4bn) to Greece, eurozone ministers said in a statement.

The latest tranche of the international bailout will help avert a fresh debt crisis in July when the next 7bn euro repayment of loans becomes due.

IMF director Christine Lagarde said she would propose an approval in principle to her executive board.

The IMF wants clarity on longer-term debt relief for Greece once the current funding scheme, worth up to 86bn euros, runs out next year.

The payment is still subject to parliamentary approvals in some countries.



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