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Athens Macedonian News Agency: News in English, 15-07-17
CONTENTS
[01] EU Council approves EFSM bridging loan to Greece
[01] EU Council approves EFSM bridging loan to Greece
ANA-MPA -- The European Council on Friday announced that it has adopted a
decision to give 7.16 billion euros to Greece from the European Financial
Stabilisation Mechanism (EFSM), as a bridging loan to cover its short
term financial needs.
The loan will have a maximum maturity of three months and will be
disbursed in up to two instalments. It will allow Greece to clear its
arrears with the IMF and the Bank of Greece and to repay the ECB, until
Greece would start receiving financing under a new programme from the
European Stability Mechanism (ESM), a Council announcement said.
Meanwhile, the European Stability Mechanism (ESM) Board of Governors
on Friday announced that it had in principle approved the granting
of financial assistance to Greece in the form of a loan programme.
The ESM announcement said that this decision was pending the completion
of national processes to approve the new loan by the national parliaments
of ESM member-states.
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