Germany expected to recommend release of aid tranche to Greece

The German government will recommend that the European Stability Mechanism (ESM) rescue fund releases the next tranche of aid to Greece, according to a letter from Deputy Finance Minister Jens Spahn to the budget committee seen by Reuters on Wednesday.

The budget committee will discuss the release of 10.3 billion euros ($11.7 billion) in credit later on Wednesday.

Last week Greek lawmakers approved a set of extra measures demanded by international lenders to receive further bailout funds and cheap bank funding from the European Central Bank. [Reuters]