Rehn: Greece set for new payout

The European Union's top economic official expects eurozone finance ministers to sign off on the payout of €12bn in aid for Greece on Sunday and decide on a new bailout in July.

Olli Rehn said in Brussels that such a two-step approach "means that the funding of the Greek sovereign debt can now be ensured until September, while we take the decisions for the medium-term, beyond September, in July".