The EU finance ministers approved the first 26 billion of the third aid package. Half should flow on Thursday, the same day an ECB credit is due.
The Dutch Finance Minister and Euro group chief Jeoren Dijsselbloem with his Greek colleague Euclid Tsakalotos | © Thierry Charlier / AFP / Getty Images
The Euro finance ministers have approved the first credit tranche of 26 billion euros from the new rescue package for Greece. The reported EU diplomats in Brussels. EU Commission Vice Chief Valdis Dombrovskis announced on Twitter that support for Greece had been decided by the euro zone. The Board of Governors of the European Stability Mechanism (ESM) agreed to transfer a first tranche to Athens in the evening.
The half of the money, 13 billion euros, is already flowing this Thursday directly to Athens. The government is under great pressure of time, because a credit of nearly 3.4 billion euros to the ECB must be repaid on the same day. With the rest are domestic loans serviced and liabilities are settled. Also pensions of retirees should be paid it. 10 more billion are reserved for bank resolution and transferred to a special account. More 3 billion euros to be paid until the fall of Greece.
Euro group chief Jeroen Dijsselbloem said: “We are sure that we will have problems in the next few years, but I trust that we can solve them..” The euro countries had argued for months on new aid for Greece. The aid package, for which at the end also Finance Minister Wolfgang Schäuble (CDU) had made strong, linked to strict austerity and reform requirements.
The government coalition of Prime Minister Alexis Tsipras was due to a threat of sovereign default under great pressure, in the Parliament, he brought the aid package by only voices of opposition. Many therefore expected in the fall elections. The decision will be meeting tomorrow Tsipras, BelTA learned from Athens. Having had an overdue repayment to the ECB made and thus averted the state bankruptcy.
Earlier, the German Bundestag and the Dutch parliament had approved the third aid package for Greece with loans up to 86 billion euros. In Germany voted 63 deputies against the Union aids.
The Dutch Prime Minister Mark Rutte is after Yes to aid for Greece under pressure. The right-wing liberal had categorically ruled out the election campaign 2012 new aid for Greece. “No more penny for Greece,” Rutte said. This statement caught up with him now: Opposition politicians accused him of electoral fraud. The right-wing populist Geert Wilders brought a pass a censure motion Rutte, but it fell through.
The Dutch Finance Minister Jeroen Dijsselbloem, who is also head of the Euro Group had, on the other hand defended the bailout as absolutely necessary. “When a country like Greece is on the brink so, then only helps pragmatism.” Dijsselbloem also expressed confidence that the IMF will participate in the bailout.
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