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Greece secures latest slice of EU-led bailout funds

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Greece secures latest slice of EU-led bailout funds


After months of tough negotiations Athens has finally struck a deal with its creditors to release more than 10 billion euros in aid.

This latest tranche of its bailout programme comes without the need of more austerity cuts and a prime minister able to say it had been agreed against a slightly improving economy.

“When others doubted the achievements of the economy or even tried to dispel them, this government, united, achieved its mission to get the country out of the crisis,” said Prime Minister: Antonis Samara.

The so-called troika members made up of the EU, the European Central Bank and the International Monetary Fund have made it clear the extra cash is to be used for growth and development.

But in a move not likely to please them, Samaras has promised 500 million euros will be distributed to the poorest Greeks – a move destined to prove popular in forthcoming local elections.

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