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.
