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Eurozone Authorizes 1 Billion Euro Rescue Loans to Greece

Eurozone leaders authorized 1 billion euros in rescue loans to Greece, that is predicted to be allocated by tomorrow.

The Euro Work Group sanctioned another bailout, as a result of the Greek government's reform strides, as mandated by troika. The European Financial Stability Facility has now provided Greece with a total of 141.8 billion euros in aid.

The new assistance is the final portion of 8.3 billion euros in funds, endorsed by the Eurogroup summit, whom met in Athens this past April. An additional amount of 1.8 billion euros deriving from the nation's global creditors has yet to be distributed; this amount is forecasted to be granted after troika's planned economic review in September.