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EFSF Disburses 7.2 Bln Euros for Greek Banks

Written: 2013-06-01 11:54:07Updated: 2013-06-03 09:32:56

EFSF Disburses 7.2 Bln Euros for Greek Banks

The euro zone has provided Greece an additional seven-point-two billion euros in debt relief for the recapitalization of its crippled banking sector.

Klaus Regling, the chief of the European Financial Stability Facility (EFSF), the euro zone’s permanent crisis resolution mechanism, said the fresh funds should help Greece create “a healthy and functioning financial sector.”

The EFSF has already disbursed 127-point-two billion euros out of its total commitment of 144-point-six billion euros for financial assistance to Greece.

The International Monetary Fund (IMF) also said it has additionally transferred a fund of two-point-26 billion U.S. dollars to the debt stricken nation.

Dutch Finance Minister Jeroen Dijsselbloem, who heads the finance ministers of the 17-nation euro zone, said “there are the first signals of a turn” in Greece and “there is optimism that growth will pick up in the euro zone as well as in Greece next year.”

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