Greece regains tranche of three

Greece regains tranche of three

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The Greek Government has signed an agreement with the “troika ” of international creditors (European Commission, the European Central Bank (ECB) and International Monetary Fund ( IMF) ) , according to Financial Times.

Under the agreement, which the country will receive a tranche of 10 billion euros, without cuts in public spending .

Greek Finance Minister Yannis Sturnaras called the six-month negotiating the most complex since 2010 , when the country asked for help .

Thus, the country can produce debt payments by 9.3 billion euros , most of which is accounted for by the ECB.

” Under the agreement, preparing significant changes that will contribute to economic liberalization , competitiveness and lower prices – said Greek Prime Minister Antonis Samaras – In particular reforms that are implemented in other EU countries .”

In 2013, the country recorded a budget surplus (excluding debt service ) in the amount of 812 million euros, the inspector witnessed the “troika” .

It is assumed that Greece will spend about 70% of the surplus to finance social programs.

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