EU Fin Mins Approve Disbursement Of $11 Billion In Bailout Aid For Greece

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Photo: Daniel Goodman / Business Insider

Euro are finance ministers just approved the sixth tranche of bailout aid from Greece’s first bailout last year.The “troika”—European Commission, European Central Bank, and International Monetary Fund—is set to disburse these €8 billion ($11 billion) in aid before the middle of December, before a large number of Greek bonds are set to mature.

The announcement comes over months of bickering about whether or not Greece has been doing enough to cut spending and privatize to receive the aid.

Greece has been expected to receive this tranche since mid-October.

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