July 2, 2011
Euro zone finance ministers agreed on Saturday to disburse a further 12 billion euros ($17.4 billion) to Greece and said the details of a second aid package for Athens would be worked out in the "coming weeks."
After a conference call among the 17 euro zone ministers, it was agreed that the next, fifth tranche of a 110-billion-euro bailout agreed with Greece in May 2010 would be paid by July 15 as long as the IMF's board signs off on the disbursement.
The IMF is expected to meet on July 8 to discuss it.
"The Greek authorities provided a strong commitment to adhere to the agreed fiscal adjustment path and to the growth-enhancing structural reform agenda," Jean-Claude Juncker, the chairman of the Eurogroup, said in a statement approving the release of the next aid payment.
"Ministers call on all political parties in Greece to support the programme's main objectives and key policy measures in order to ensure a rigorous and swift implementation."
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