World

Eurozone approves Greek €8.5 billion bailout payment

The deal is meant to avert a repeat of the summer of 2015 when Greece defaulted on an IMF loan.

07.07.2017

(AFP) - The eurozone approved the latest €8.5 billion bailout disbursement to Greece on Friday, just in time for Athens to meet major debt repayments and avert default.

"The Board of Directors of the European Stability Mechanism (ESM) today approved the third tranche of EUR8.5 billion of ESM financial assistance to Greece," the eurozone bailout fund said in a statement.