The Eurogroup on Friday entrusted the European Union institutions with the task of swiftly negotiating a Memorandum of Understanding (MoU), the first step to a three-year bailout program for Greece. The European Commission in cooperation with the European Central Bank (ECB) and International Monetary Fund (IMF) will negotiate the MoU detailing the policy conditionality attached to the loan, according to a statement issued by the Group.
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