Eurogroup mulls 10.3 billion euros in fresh bailout aid for Greece

  • 2/10/2023
  • 14:38
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Brussels, Sha'ban 17, 1437, May 24, 2016, SPA -- Eurozone finance ministers were considering Tuesday whether to pave the way for Greece to access 10.3 billion euros (11.5 billion dollars) in bailout aid over the coming months, sources said on condition of anonymity, according to dpa. The cash-strapped country and its creditors have spent months negotiating reforms and cost-cutting measures that would allow money to continue flowing from Greece's third, 86-billion-euro bailout. Another set of cost-cutting measures that would be implemented if Greece's finances go awry are also on the negotiating table, along with possible debt relief measures for Athens. Eurozone ministers were attempting Tuesday to achieve a breakthrough that would finally allow Greece to tap the bailout aid, amid fears that it will otherwise be headed back to the brink of bankruptcy. Ministers were upbeat before the meeting, after the Greek parliament passed several austerity measures including controversial pension cuts and tax hikes. --SPA 22:22 LOCAL TIME 19:22 GMT www.spa.gov.sa/w

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