GO
Loading...

Greece gets green light for 4 billion euro payment

Athens
Adri Aderval | Flickr | Getty Images
Athens

Euro zone officials have approved the transfer of 4 billion euros ($5.3 billion) of funding to Greece and euro zone governments are expected to approve disbursement by Monday, the European Commission said on Friday.

"With the proviso that the national approval procedures are completed, which we expect to happen by Monday, the disbursement can take place," Commission spokesman Simon O'Connor told a briefing, referring to the approval by euro zone governments.

(Read More: Greece Minister: Failure to Meet Bailout Terms Not Our Fault)

The money approved amounted to 4 billion euros, O'Connor said, split between 2.5 billion from the euro zone's temporary bailout fund, the EFSF, and income generated from national central banks' holdings of Greek government bonds.

(Read More: Ex-Greek minister: Greece needs a 40% debt haircut)

Contact Europe News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More

Europe Video

  • The FBI have stated that North Korea's government is responsible for the Sony attack. Neil Ashdown, deputy head of Asia analysis at IHS, weighs in, saying that it's difficult to "definitively attribute" a hacking attack to a particular group or state.

  • What were the main highlights of the EU Summit in Brussels? CNBC's Hadley Gamble gives you the lowdown.

  • Carnival Cruises earnings have beaten expectations in its fourth quarter, with lower fuel prices being a great help, says David Dingle, UK chairman of Carnival Cruises.