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Greece gets first installment of EU aid

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Greece gets first installment of EU aid


Greece has taken delivery of the first instalment of an emergency loan from the euro zone, in time to cover a major debt refinancing due tomorrow.

Having already received 5.5 billion euros in aid from the IMF, Athens has now been given 14.5 billion from Europe. They are the first payouts in an overall rescue package of 110 billion euros.

The timing is crucial as crisis-hit Greece must pay an 8.5 billion euro bond maturing tomorrow.

The government has imposed drastic austerity measures in return for the bailout. Unions have called their latest general strike in protest this Thursday.

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