Where will the 34.3 billion euros go

Greece will finally get the tranche of 34.3 billion euros. 7 billion will be used to feed the budget and 11.3 billion (in the form of six-month bonds) will be used to liquidate the bond repurchase. Another 16 billion euros will go to the EFSF for the next phase of recapitalization.

This is the whole of the tranche of 34.3 billion euros to Greece to be disbursed before Christmas by the EFSF. In mid January, the plan provides for the transfer of 7 billion euros (in the form of three-year bonds) from the EFSF in order to complete the financing of the recapitalization under the loan agreement.

As mentioned by capital.gr, topping the list of payments from the 7-billion tranche are companies awaiting a VAT refund, followed by the beneficiaries of the public sector for the lump sums and EOPYY, which will be funded immediately to pay pharmacists.

As calculated by the MoF, there will be payments of approximately 

4 to 4.5 billion euros during Christmas and the first two months of 2013. These will come from the part of the tranche for the arrears of the state, which does not exceed 7 billion euros, while the arrears have began to exceed 10 billion euros.