The European Stability Mechanism approved the disbursement of the one billion euro bailout tranche to Greece on Tuesday afternoon.
#ESM Board of Directors just authorized the disbursement of €1bn to #Greece, #ESM press release will follow shortly
— ESM (@ESM_Press) December 22, 2015
The collection of the money by the Greek government will mark the conclusion of the first round of funding. A review of the three year 86 billion euro bailout program’s process thus far will begin in January. Once that is finished, the government and creditors will begin negotiations over new measures and reforms in exchange for additional funds.
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