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Eurozone ministers decide on Greek bailout payment today

Greece passed its austerity package last week to secure payment of the next part of its €110bn bailout.

Image: Petros Karadjias/AP/Press Association Images

THE EUROZONE’S 17 finance ministers are expected to sign off on the next tranche of Greece’s bailout fund today.

The Greek government succeeded in passing a raft of austerity measures last week which aim to cut €28bn from the Greek budget in the coming five years as well as raising money through the sale of state assets and increased taxation.

Athens, which is due to make loan repayments next month, had been warned it must pass the package before being given access to the next tranche of its €110bn bailout package.  Thousands took to the streets of the capital to protest against the measures as parliament met to debate and vote on them.

Eyewitness Cáit Power spoke to TheJournal.ie about the tension in Athens and the riots which broke out amid peaceful protests:

People were chanting at the top of the square, and there was a lot of taunting going on between protesters and police. Protesters would shout at the guards lined in front of the parliament building and the police would wave their tear gas cans as if to say… ‘come and have a go if you want’.

EU ministers will meet later this month to discuss the details of a second bailout package for Greece, which could potentially be as high as €120bn.

Read: Eyewitness: Tear gas and tension in Syntagma Square >

Gallery: Athens burns as riots seize the Greek capital >

Read more: While Greece riots, Italy passes €47bn austerity plan >

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