Economy

Eugene

(67,145 posts)

82. Greek bailout: Eurozone holds back 1bn-euro payment

Wed May 9, 2012, 09:49 PM

May 2012

Source: BBC

9 May 2012 Last updated at 21:05 GMT

Greek bailout: Eurozone holds back 1bn-euro payment

The eurozone's rescue fund has decided to hold back 1bn euros ($1.3bn; £800m) of its latest instalment of its bailout to Greece.

This comes after a majority of Greeks voted against the political parties that supported the country's bailouts and the austerity they have imposed.

The rescue fund said that it would disburse 4.2bn euros of the 5.2bn euros due to Greece.

It said that Greece did not need the remaining funds this month.

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Read more: http://www.bbc.co.uk/news/business-18014075

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