EU prepares to give 3 billion euro aid tranche to Greece

European Economics Commissioner Pierre Moscovici says EU will give Greece 3 billion euro ($3.4 billion) in aid tranches

Photo by: Reuters
Photo by: Reuters

People walk along the commercial Ermou Street next to graffiti reading ''Troika'' in central Athens, Greece on October 20, 2015

Reforms carried out by the Greek government are on track and its creditors will disburse the next 3 billion euro ($3.4 billion) installment of its aid program, European Economics Commissioner Pierre Moscovici told French radio on Thursday.

"Greece has done a certain number of reforms, and we are going to give them money, 3 billion euros in all," Moscovici told Europe 1 radio.

"And in the course of November, December, we will deal with the issue of the recapitalization of Greek banks and Greek debt," he said.

"The Greek situation is on track as long as every one plays their part, which means carrying on with reforms for the Greek government, and having a constructive attitude for its partners,” Moscovici added.

($1 = 0.8843 euros)