–Tranche Approval Had Been Expected Oct 8, Greece Running Out Of Cash

ATHENS (MNI) – Union representatives who met here today with
Greece’s Finance Minister Giannis Stournaras said he had told them that
a E31.5 billion loan tranche expected to be disbursed to Athens next
month by its official creditors will not be paid until November.

Greece had been expecting the tranche to be approved at the meeting
of Eurozone finance ministers, the Eurogroup, scheduled for Ocotber 8.
Last week, Greek Prime Minister Antonis Samaras appealed to the EU to
release the loan payment as soon as possible, saying his country was
running out of cash.

Indeed, the union officials were meeting with Stournaras to discuss
the fact that the employees they represent, from 14 municipalities, have
not received their paychecks for the first half of September, which were
due on September 1. In protest, the employees launched a 48-hour strike
starting today.

–Athens bureau, apapamiltiadou@mni-news.com; +306-937-100071

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