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Thursday, July 16, 2015

Europe moves to restore funding to Greece after bailout vote

By Lefteris Karagiannopoulos and George Georgiopoulos ATHENS (Reuters) - European creditors moved cautiously towards re-opening funding to Greece's stricken economy on Thursday, hours after a fractious Greek parliament approved a tough bailout programme aimed at preventing a chaotic exit from the euro. Prime Minister Alexis Tsipras won the backing of parliament in the early hours of Thursday for the stringent reform measures demanded by the creditors led by Germany, but was left weakened by a revolt in his left-wing Syriza party. The European Central Bank was set to delay an increase in vital emergency funds to the Greek banking system until a broader backstop was in place.


READ THE ORIGINAL POST AT uk.news.yahoo.com