Bulgaria’s Euro Adoption Wins Eurogroup Approval After Successful First Weeks
The Eurogroup has formally congratulated Bulgaria on the way it has managed the transition to the euro, describing the process as smooth and well executed
Greece To Receive EUR 2.8 B Tranche Under Third Bailout Programme
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Euro Zone representatives have announced that they have approved another EUR 2.8 B in financial assistance to Greece, reported France Presse.
The decision taken on Tuesday is a sign of the stable progress of reforms in the country, explained the Managing Director of the European Stability Mechanism Klaus Regling, reported BNR.
Regling pointed out the improvements in the pension system, the management of banks and collectability of taxes as the main achievements of the Greek authorities. Regling forecast growth of the Greex economy in 2017.
Until now, Athens has received nearly EUR 32 B out of the EUR 86 B under the financial assistance programme negotiated with the Eurogroup in July 2015.
The new EUR 2.8 B loan will includeEUR 1.1 B for servicing the Greek debt and EUR 1.7 B for covering outstanding payments to local suppliers.
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