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Euro working group approves disbursement of 1 billion euro loan installment for Greece
Reported by: Associated Press
Reported: Friday, July 4, 2014 5:27 AM EDT
Greece's finance ministry says a key body monitoring the country's international bailout has approved the disbursement of the next batch of rescue loans.
Eurozone finance ministers are expected to formally approve the disbursement of the 1 billion-euro tranche in a meeting in Brussels on Monday.
Greece has relied on international rescue money since May 2010 when it found itself unable to raise funds on bond markets due to a severe financial crisis. In return, it has had to overhaul its economy and impose spending cuts and tax hikes.