SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
ATHENS, Greece – Greece announced Friday, December 11 it had reached a deal with its international creditors on the latest set of reforms needed to receive another tranche of one billion euros in much-needed bailout loans.
“We have reached an agreement for this cycle,” the finance minister George Stathakis told reporters after a meeting with the country’s quartet of creditors – the European Commission, the European Central Bank, the International Monetary Fund and the EU’s bailout fund, the European Stability Mechanism.
This round of funding was contingent on reaching an agreement on the terms of a privatization fund and the sale of electricity distributor Admie.
The state will take a 51% stake in Admie, while the rest will be sold to private investors and a portion floated on the Athens stock exchange.
The Greek parliament will vote on the bill next Tuesday, December 15, as required by law.
Greece in July accepted a 3-year, 86-billion-euro ($93-billion) EU bailout that saved it from crashing out of the eurozone, but the deal came with strict conditions.
The beleaguered nation received its first payout in August and second in November, each time pushing through a number of the unpopular reforms under the terms of the release. – Rappler.com
Add a comment
How does this make you feel?
There are no comments yet. Add your comment to start the conversation.