Greece Unblocks Funds to Help Ease Energy Crisis- Court Official

Greece Unblocks Funds to Help Ease Energy Crisis- Court Official
Reuters
Τρι, 12 Ιουνίου 2012 - 14:16
Greek court officials plan to release 40 million euros ($50 million) in emergency funds to provide liquidity to the country's cash-strapped energy system and help avert a looming power crisis, a court official said on Tuesday.

Greek court officials plan to release 40 million euros ($50 million) in emergency funds to provide liquidity to the country's cash-strapped energy system and help avert a looming power crisis, a court official said on Tuesday.

The funds, belonging to Greek energy suppliers that went out of business earlier this year, had been frozen as part of a judicial investigation.

"Part of the money will be used to pay electricity producers... because there is a risk of electricity disruptions in the coming days," a court official who declined to be named told Reuters.

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