EU Finance ministers approved on Monday the next tranche of financial aid for Greece, worth 1 billion euros. “With this €1 billion disbursement, there is now €2.1 billion still left in the pipeline for Greece. €1 billion of that could be disbursed in August but that depends on the nest set of milestones being met.” ESM Managing Director Klaus Regling said.
The Eurogroup also discussed the euro area aspects of banking union and the process of Lithuania’s accession to the euro area. They also had a thematic discussion on reforms aimed at reducing the high tax wedge on labour in order to promote growth and employment.