Greece gets go-ahead for third multi-billion euro bailout

Greece will immediately receive a sum of 23 billion euros that will allow Athens to make a loan repayment of 3.4 billion euros due to the European Central BankGreece got the green light on Wednesday to start repaying its debts and reviving its economy after eurozone finance ministers formally approved a third reforms-for-rescue of up to 86 billion euros. A source close to the matter said Greece would receive a sum of 23 billion euros ($25.5 billion) on Thursday morning, thereby allowing Athens to make a loan repayment of 3.4 billion euros due the same day to the European Central Bank. The all-clear from the finance ministers in the 19-country eurozone came after the new bailout was approved by European parliaments, including the Bundestag of Germany, Greece’s effective paymaster.

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