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Greece to get €6bn bridge loans if no agreement at Eurogroup

Aug 14 2015 09:15

Berlin - Greece could get €6.04bn in bridge financing if eurozone finance ministers cannot agree on the planned third bailout for Athens when they meet on Friday, according to German newspaper Bild, citing a European Commission proposal for the meeting.

That proposal says the bridge loans should run for a maximum of three months, Bild said in an advance copy of an article due to be published on Friday.

Eurozone finance ministers are due to meet in Brussels on Friday to discuss a third financial rescue that Greece has negotiated with its creditors.

Greek Finance Minister Euclid Tsakalotos expressed his opposition on Thursday to Greece taking another temporary loan to meet its immediate debt repayments, calling on lawmakers to approve a new, three-year bailout deal.

"I think whatever everyone's stance on the euro and on whether this is a good or bad accord, there must be no one who is working towards a bridge loan," he told a parliamentary committee.

Athens must make a €3.2bn debt payment to the European Central Bank on August 20.

world economy  |  bailout  |  greece debt crisis
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