Greece To Receive Next Bailout Tranche

Greece is fully financed for the next 12 months and does not want to ask the euro zone for a third bailout,although it is too early to say if it can fulfill that ambition, the chairman of euro zone finance ministers Jeroen Dijsselbloem said on Tuesday.

“We had assurance from the Troika institutions that Greece is fully financed for the coming 12 months,” Dijsselbloem told a news conference after a meeting of finance ministers.

The Troika are international inspectors from the International Monetary Fund, the European Central Bank and the European Commission.Full funding one year ahead is a condition for the IMF to disburse its part of the existing bailout.

Dijsselbloem said Greece was also keen not to ask for any more money from the euro zone, above the 240 billion euros under the first to bailout programmes, although whether this would be possible was not yet clear.

“I have taken note of the optimism or let’s say the ambition of the Greek government not to have another programme. Of course I would like to share that ambition, yet I think it’s too early to say,” Dijsselbloem said.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza