European Central Bank official to visit Greece ahead of troika review

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The European Central Bank (ECB) is sending executive board member Joerg Asmussen to Greece tomorrow to discuss progress on the adjustment programme and wider Eurozone development with policymakers and business representatives.

Asmussen's visit will be made in advance of further review by the troika of international lenders on whether Greece will need to make further savings or receive additional outside aid.

Greece received €5.8bn (around £5bn) in international aid in July this year, and is set to receive a further €1bn in October conditional on the implementation of a number of reforms.

The subject of Greek aid is a contentious one in Germany in particular, where political opponents of current chancellor Angela Merkel are piling on the pressure ahead of elections next month.

Last week, the German government capped its liabilities for Eurozone bailouts at €310bn. Finance minister Wolfgang Schauble has said Germany's liability share of Eurozone bailouts so far has been €95.3bn - or around 30 per cent of the cap - although other reports put the country's contribution much higher.