Eurozone finance chief Jean-Claude Juncker said the first disbursement of the Greek bailout loan is set to be released on December 13, the Associated Press reported.
"This is not just about money," Mr Juncker said. "It is the promise of a better future for the Greek people and for the euro area as a whole".
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After Roy Hodgson's resignation following England's humiliating exit from Euro 2016, who are the leading contenders to replace him?
The beleaguered Labour Party leader is clinging onto power in the face of as many as 150 MPs voting to remove him from the top job today.
Mr Osborne said he is "not the person to provide the unity my party needs".