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Friday, July 17, 2015

ECOFIN Approves €7.1-Billion Bridge Loan to Greece

  The Economic and Financial Affairs Council (ECOFIN) approved a 7.1-billion-euro bridge loan to Greece on Friday. The loan will be given through the European Financial Stabilisation Mechanism (EFSM) and is meant to finance Greece’s short-term obligations, including a 3.5-billion-euro bond payment to the European Central Bank (ECB) on Monday. The loan will be given in two instalments and will have to be paid back in three months.


READ THE ORIGINAL POST AT greece.greekreporter.com