For a time, Athens can blow. After a meeting in Brussels, the seventeen ministers of finance in the euro area have given their approval for the payment of the sixth tranche of aid to Greece. At a cost of 8 billion euros, it should help support the country, public debt has recently passed the threshold of 160% of GDP. Initially, Greece will receive 5.8 billion from the euro area, yet the remainder dependent on the approval of the International Monetary Fund (IMF).
Eagerly awaited the release of the envelope is part of the plan of 110 billion euros agreed in May 2010.This decision allows especially on track to the second rescue plan prepared in late October, to be finalized between the Greek Government and private creditors in early 2012 best payday advance.
A sign of confidence
For the new Greek government, this decision is also similar to a pledge of confidence in the euro area for the implementation of austerity measures which the aid was conditional. Athens has also worked hard ahead of the meeting date. In a statement released this afternoon, Evangelos Venizelos, Greek Minister of Finance, has assured that "all the necessary conditions" for the new aid program had been met.
It must be said that the release of the tranche was delayed several times.