UPDATE 1-EU exec: Greece meets criteria for next aid tranche

BRUSSELS, Aug 19 (BestGrowthStock) – The European Commission said on
Thursday Greece met qualifying conditions for the next, 9
billion euro tranche of euro zone financial aid it is due to
receive in September.

“The Commission considers that the broadly positive
evaluation of the conditions imposed on Greece opens the way for
the next phase of lending,” the EU executive said in a
statement.

It expects euro zone member states to approve the next
tranche and proceed with the transfer of funds.

Of the 9 billion euros, 6.5 billion will come from euro zone
countries and 2.5 billion from the International Monetary Fund
(IMF).

A joint mission of the IMF and the Commission to Greece said
on Aug. 5 that Athens had made substantial progress in reining
in its budget deficit, but needed to push on with reforms to
restore investor confidence and return to markets next year as
planned.

Commission spokesman Amadeu Altafaj told a news briefing the
Commission did not expect the payout to be hampered by Slovakia,
whose parliament rejected earlier in August the country’s
participation in the emergency lending programme.

Slovakia did not participate in the first tranche of
emergency euro zone aid for Greece either.

The next tranche of money for Athens is to be approved by
euro zone finance ministers at a special meeting on Sept 7.

(Reporting by David Brunnstrom, writing by Jan Strupczewski,
editing by Charlie Dunmore, John Stonestreet)

UPDATE 1-EU exec: Greece meets criteria for next aid tranche