Greece won’t get EU bailout this month

Greece won’t get EU bailout this monthThe EU won’t grant additional bailout money for Greece as they meet in Bratislava this month, Germany's Handelsblatt Global reported on Sunday, citing European Union diplomats.

So far Athens had implemented only 2 of 15 political reforms that are required for the bailout money, the newspaper reported. Greece had also been slow to privatize state assets.

Last year euro zone countries, the European Central Bank and the International Monetary Fund signed a deal to provide Greece with financial assistance of up to 86 billion euros by 2018 if the country implements reforms.

The debt relief is due to be granted in tranches, including short-term measures to extend Greece's debt, with a further reduction due after 2018 including interest deferrals and interest rate caps.

In May Eurogroup had approved a tranche of 10.3 billion euros for Greece from the overall package, according to Handelsblatt Global. Athens has already received 7.5 billion euros of that sum with the rest to transfer in autumn.

At their meeting in Bratislava the Eurogroup will only discuss a progress report on Greece.
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