Greece to receive more aid this week

Greece to receive more aid this week

Athens is expected to support a measure that would give the Greek government 1 billion euros ($1.09 billion) of its $95 billion bailout package authorized by eurozone finance ministers in August. The agreement, which comes up for a vote Tuesday, would require Greece to partially privatize its electrical grid and open a market in nonperforming loans held by Greek banks that make up more than half of all lending.

Citing a government official, the Financial Times reported that a draft bill tackling these “milestone” measures toward Greek economic recovery would be delivered to Parliament Saturday. Lawmakers are expected to approve the legislation early next week without any further defections from Greek Prime Minister Alexis Tsipras’ delicate Syriza party-led coalition. Last month, two legislators bowed out of the coalition, leaving it with just a two-member majority.

On Friday, a deal was reached with Greece’s creditors that included other eurozone member states and the International Monetary Fund to keep 51 percent of ADMIE, the country’s power transmission operator. Read more

 

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