All the latest economic and financial news, as Athens finally takes delivery of fresh bailout funds under its three-year deal with the eurozoneIntroduction: Bailout funds should arrive today 8.29am BST Things are moving fast this morning.Europe’s main bailout vehicle, the ESM, has now approved the first tranche of financial assistance for Greece, totalling €26bn.“Today’s ESM disbursement will allow Greece to meet its urgent financial obligations to the International Monetary Fund and the European Central Bank, and other budgetary needs. The second sub-tranche of €10 billion will contribute to stabilising the banking sector, whose situation deteriorated sharply after the imposition of capital controls in June.ESM Board of Directors approves first tranche (€26bn) of third Greek bailout. €13bn disbursed immediately. http://t.co/VbsBmS0ce4 #Greece 8.13am BST Greece has just triggered the procedure to repay the €3.4bn bond held by the European Central Bank, which matures today.That’s according to the AFP newswire, and Reuters.#Greece repays €3.4bn to the #ECB, AFP reports citing informed source 8.05am BST Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.It’s been a long, bumpy and nerve-racking journey. And the destination isn’t to everyone’s liking. But today, Greece will finally receive an injection of bailout funds for the first time in around a year.And after months of negotiations, ESM signs off first 26bn euros of Greece's new bailout (disbursing 13bn immediately so it can pay the ECB)*SHANGHAI COMPOSITE INDEX FALLS 3.04% Continue reading...
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