Rolling coverage as the Eurogroup meet to approve Greece’s third bailout, after Athens MPs gave their assent at a stormy all-night session
- Dijsselbloem: Hopes IMF comes on board in October
- Sapin: Greek debt relief will be discussed in autumn
- Full Story: Alexis Tsipras hit by Syriza rebellion as Greece approves bailout deal
- Photos: Dissent (and yawns) in Athens parliament
- Introduction: Greek MPs pull an all-nighter
- Full Story: Eurozone GDP weaker than expected
Meanwhile here is more from the interview with European Central Bank member Benoît Cœuré, in which he suggests the bank may allow Greek bonds to be accepted as collateral once the new bailout agreement is in place.
Will the Governing Council of the ECB immediately reapply the waiver – i.e. the exemption under which the bonds of a country with a poor credit rating are accepted as collateral if the country is in a programme – once Greece’s third programme is agreed? That would be an enormous help to Greece.
The Governing Council has not yet discussed that.
Greek officials are saying the Euro Working Group went well and it recommended to the Eurogroup of finance ministers that the country receive €13bn immediately to cover its financing needs, with another €10bn to help support the banks.
Greek FinMin sources say EWG went well, #Greece to receive €13bln now (12.5 for debt, 0.5 for arrears) & €10bln soon after for bank recap
Greek FinMin sources add there will be efforts to secure soon more "significant" funding on top of €23bln to cover state arrears #Greece
Source: The Guardian Circular Economy RSS