Greek bailout moves closer - Telegraph Jean-Claude Juncker, who is also Luxembourg's Prime Minister, said the funding programme presented a "unique opportunity for Greece that should not be missed." It means Greece will be in line for the first instalment of EU funding. Klaus Regling, chief executive of the eurozone's €440bn rescue fund - the European Financial Stability Facility - which will release funds to Greece, said the first payments would include €5.9bn this month, €3.3bn next month, and €5.3bn in May. The International Monetary Fund's executive board is expected to sign off its proposed €28bn contribution to the Greek bailout at a meeting tomorrow. As progress with the bailout was made, Italy was also given reasons to cheer as a successful bond sale was taken as evidence that investors had faith in the country's ability to deal with its financial woes. It comfortably sold €6bn of three and seven-year government bonds, at a lower yield compared with previous auctions, reflecting greater demand. The French finance minister said the country's deficit fell to 5.3pc of gross domestic product in 2011, from 7.5pc, which was a slightly better-than the Government had expected. Meanwhile the Norwegian central bank cut interest rates unexpectedly, by 25 basis points to 1.5pc. The Norges Bank cited "weak growth prospects abroad" as the main reason for the cut, along with the negative effects of a strong krone.