Germany postpones Greece’s final bailout payment

July 13, 2018 11:27 AM

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Germany postpones Greece’s final bailout payment

Mubasher: Germany delayed the final bailout disbursement for Greece, making it difficult for the embattled country to regain financial sovereignty, as it leaves bailout programme in August.

Eurozone finance ministers gave the green light on Thursday for the EUR 15 billion ($17.45 billion) aid payment during their meeting in Brussels, yet Germany refused to sign off on the agreement.

Greece has to fill the EUR 28 million ($32.56 million) budget deficit with reducing expenditure, most specifically in defence spending, Berlin stated on Thursday.

The move came after Greece’s Prime Minister Alexis Tsipras said in late June that he would hold up a value added sales tax hike on five Aegean islands that have been hit by the influx of migrants, adding to signs that he has his work cut out to earn the trust of creditors in the Eurozone.


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