Business World

Sunday 22 October 2017

Eurozone finance ministers to decide on Greek aid

Finance Minister Michael Noonan
Finance Minister Michael Noonan

Finance Minister Michael Noonan will join his Eurozone colleagues today to discuss whether or not to release additional bailout funds to Greece.

The progress made by the Greek government in implementing its bailout programme has been analysed by the European Union and the International Monetary Fund in the last few weeks. 

Eurozone ministers will now decide if this progress has been adequate enough to warrant a further 6m tranche. Early reports from the Greek government and the Troika over the weekend indicate that commitments outlined in the programme have been honoured and that the decision would be a favourable one.

Today’s meeting will be the first for Portugal’s new finance minister, Maria Luis Albuquerque, who rose to the role amid much political contention in Lisbon last week. Given the minister’s perceived strong support for austerity measures, her comments at her inaugural meeting will be watched very closely.

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