Greece is set to receive the second instalment of a rescue loan provided by the EU and IMF following the country's progress in cutting its deficit.
The debt-laden country will receive a second tranche of 9bn euros next month after the European Commission said its decisive cost-cutting programme warranted an extension of the aid package.
Greece's deficit has now fallen 46% in the first half of the year following the Government's strict austerity drive which led to rioting and social unrest in Athens.
But the stringent cuts have also put a brake on economic growth, with the Greek economy contracting 1.5% in the second quarter.
Despite progress made in tackling its deficit, the EC said the country faces ongoing challenges such as safeguarding financial stability.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected