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Germany Postpones Release of Loan Tranche to Greece

German Bundestag did not recommend the release of the next loan tranche to Greece by the European Stability Mechanism rescue fund as earlier reports by Reuters had suggested. The German budget committee was supposed to have discussed the release of 10.3 billion euros in credit to Greece with 7.5 billion euros to be disbursed before the end of June, however German Bundestag avoided making such a decision to give the “green light”. Instead, Greece was encouraged to complete all of its prior actions.
CDU/CSU Committee Chairman Eckhardt Rehberg said that the next tranche installment has not been disbursed due to a few more outstanding measures that need to be applied by Greece. He said that the matter will be discussed afresh once Greece meets its commitments.
According to the road map, the disbursement of the tranche benchmarked for Greece will be around June 16-17.

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