Associated Press
June 4, 2011
Greece is poised to receive the next installment of its bailout facility, and will likely get further rescue loans to prevent it from defaulting on its massive debts, European officials said yesterday.
Debt inspectors from the European Union and the International Monetary Fund said Greece should receive the next $17.5 billion tranche of its existing $146 billion bailout as long as additional austerity and privatization measures are deemed sufficient. Greece also had to accept outside interference in the way it runs its government services.
As the international debt inspectors concluded the near monthlong mission in Athens, Jean-Claude Juncker, who chairs the group of 17 eurozone finance ministers, said he expected Greece to get additional help, on top of the existing rescue loans, as long as it fulfills its promises.
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