Greece has made allocation of a bridge loan of € 7 billion – RBC

Photo: Oleg Yakovlev / RBC

The countries of the eurozone finance ministers in general welcomed the allocation of € 7 billion in Greece as a bridge loan, Bloomberg reported, citing a source familiar with the decision. According to him, officially granting short-term loan will be announced tomorrow, July 17, after the technical details to be settled, and the national parliaments to vote in favor of the financial aid to Greece.

The decision on the bridge loan was made during selector the meeting of eurozone finance ministers, which was held on Thursday, July 16 at 11:00 MSK. According to The Guardian, at 15:45 MSK expected press conference by the ECB, which tells about the measures to replenish the liquidity of Greek banks.

The European Commission formally proposed to issue a short-term loan to Greece € 7 billion from the European financial stabilization mechanism (ESM), which is intended for the entire EU, not only for the countries that use the euro. Against use ECM to help the euro zone are the United Kingdom and other countries that are part of the European Union but do not use the euro, writes BBC BBC.

On the night of July 16, the Greek Parliament passed a package of laws envisaged by the agreement with international creditors to release the country further financial assistance. In particular, in Greece will increase VAT and cut sotsraskhody, including pension benefits.

The basic package of financial aid to Greece should be approved by the parliaments of all EU countries, so it will stand out from the ECM. Wednesday, July 15, finpomosch has already been approved by the French Parliament. The Bundestag, in which there is considerable opposition to the preservation of Greece in the euro zone, will vote on Friday, July 17.

Only then will discuss the mechanism of providing financial assistance, which can be delayed until the end of the summer, warns The Guardian. According to the correspondent of the Finnish business daily Kauppalehti the EU Jarno Hartikainen, Managing Board ECM will hold July 17 teleconference at 18:00 to take a formal decision to start negotiations on the allocation of aid to Greece

In the case of the approval of the third package of bailout for Greece the past five years, the euro zone will provide funds in the amount of € 40-50 billion. The agreement between the Greek authorities and the creditors it came to the amount of € 82-86 billion. The rest of the money will have to come from the IMF, due to the privatization and the financial markets.