European Regulators Approve Next Installment of Greek Bailout Plan

The EU and IMF have reached an agreement to pay the next tranche of the €110 billion ($161 billion) bailout to Greece, likely setting the course for further amendments to the embattled country’s financial aid plan.

European officials met in Luxembourg Friday to discuss details of the new package. Sources say the latest plan includes a provision for "voluntary" investors to get involved in the bailout.

Greek Prime Minister George Papandreou said he expects the new aid measure to be conditioned on involvement from the private sector. Papandreou agreed to form a committee which would oversee an accelerated sale of Greek assets as well as make "significant" reductions in public-sector employment.

Shares of National Bank of Greece are continuing higher Friday following three straight days of upside. On the NYSE, the stock is now up 9.3 percent to $1.53 amid the news.

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