Tags: greece | eu | loan | debt | euro

EU Likely to Approve $7.6 Billion 'Bridge' Loan for Greece

Thursday, 16 July 2015 06:16 AM EDT

Euro-area finance ministers agreed in principle to extend a 7 billion euro ($7.6 billion) bridge loan to Greece, according to an official familiar with the decision.

The loan is due to be announced on Friday, once national parliaments have voted on the bailout deal that Greek Prime Minister Alexis Tsipras signed up to on Monday, the official said, asking not to be named because the conversations were private. The loan will come from the European Financial Stabilization Mechanism, the European Union’s rescue fund, the official said.

The loan should help Greece clear a 3.5 billion euro payment due to the European Central Bank on Monday, and keep the country afloat while Tsipras negotiates the details of a three- year bailout of as much as 86 billion euros.

Eurozone officials are trying to find a way to make the rescue program work after the bloc’s leaders thrashed out a deal during 17 hours of talks. Tsipras cleared his first hurdle when he won support in the Greek parliament for a new round of austerity in a vote in the early hours of Thursday.

© Copyright 2025 Bloomberg News. All rights reserved.


GlobalTalk
Euro-area finance ministers agreed in principle to extend a 7 billion euro ($7.6 billion) bridge loan to Greece, according to an official familiar with the decision. The loan is due to be announced on Friday, once national parliaments have voted on the bailout deal that...
greece, eu, loan, debt, euro
182
2015-16-16
Thursday, 16 July 2015 06:16 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved