greece next bailout tranche delayed

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.