greece next bailout tranche delayed

  1. 246 Posts.
    11.50 Greece will not receive its next bail-out tranche until September at the earliest, the European Commission has reiterated.
    A spokesman said:
    The decision on the next disbursement will only be taken once the ongoing review is completed [...] over the last few months, significant delays in programme implementation have occured due to the double parliamentary elections in the spring.
    Two Greek government bonds totalling €3.1bn will mature on August 20.
    The delay means Athens could be forced to raise money on the debt markets to repay them - at a very high cost.
 
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