Thursday, August 20, 2015

Greece pays debts to ECB – Frankfurter Rundschau

August 20, 2015

If Greece can not afford the payment, the ECB would have turned off the money tap. Photo: RTR

For expiring bonds and interest Athens has over time 3.4 billion euros to the European Central Bank. Previously, Greece had received the first 13 billion euros from the ESM payout. The remaining money is provided, inter alia, repayments to the IMF.

Greece on Thursday debts amounting to around EUR 3.4 billion for expiring bonds and interest at the European Central Bank (ECB) settled. This was told the German Press Agency by a familiar with the procedure staff of the Ministry of Finance in Athens. If Greece can not afford these payments, the ECB would likely have remained nothing for the country zuzudrehen than the money supply. This could have the collapse of the economic result.

Previously, Greece had received the first 13 billion euros from the new aid program of euro partner. The money was transferred on Thursday morning, said the euro rescue fund ESM with in Luxembourg. It should enable the country in time to meet its urgent financial obligations.

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had the euro zone finance ministers on Wednesday evening a credit tranche of a total of 26 billion euros released. The new package to rescue the country’s crisis before the national bankruptcy has a circumference of up to 86 billion euros and is designed to last three years. In return, the Greek government is committed to reforms and savings.

The remaining money from the first disbursement ESM provides inter alia for repayments to the International Monetary Fund (IMF). Not yet remitted ten billion euros from the first loan installment are reserved for bank resolution. Three billion euros will flow until the autumn. (dpa)

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