Eurozone approves allocation of loan tranche to Greece

The Eurozone approved Monday night the allocation of a 2.8 billion euro loan tranche to Greece, according to the Greek Finance Ministry.

The Brussels-made decision paves the way for obtaining another 6 billion euros by Greece, if Athens makes moves in the field of taxation, as previously agreed with the moneylenders.

The allocation of funds in April came in the wake of the adoption by the Greek MPs of a programme that provides for slashing 15,000 jobs in the public sector of the economy. Greece has pledged to make redundant a total of 150,000 government employees by 2015.