The Times Of India – Eurozone Fund Approves Next Greek Bailout Payment – 9 May 2012

BRUSSELS: The eurozone’s bailout fund has approved the release of the latest batch of (euro) 5.2 billion ($6.7 billion) in aid to shore up Greece’s finances only days after the nation’s chaotic election outcome.

The European financial stability facility announced late Wednesday that (euro) 4.2 billion will be disbursed on Thursday already with another (euro) 1 billion to come next month depending on Athens’ needs.

Embattled Greece needs the funding from the EFSF to help balance its massive bond-swap losses. link to original article

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