Eurogroup gives green light to third bailout of Greece – El Universal (Venezuela)

Brussels .- The Ministers of Economy and Finance of the euro on Thursday agreed in principle to grant the third rescue program for Greece, which It extended by three years.

For negotiations can begin still needs the approval of national parliaments, the Eurogroup said, DPA reported.

“Today decided to grant, in principle, stability support three years of the ESM,” the ministers said in reference to the European Stability Mechanism bailout fund eurozone together.

So far no specific figure for the amount of the program was given, but so far there had been talk of 86,000 million euros (93,400 million dollars).

It is expected that the formal launch of negotiations on the third rescue take place later this week. According to previous statements by Eurogroup chairman Jeroen Dijsselbloem, negotiation would last about four weeks and she will also participate in the International Monetary Fund (IMF).

The Eurogroup also came an agreement for urgent disbursement 7,000 million euros to Greece to face your impending financial obligations, Efe reported.

“We have now reached a decision in principle to grant assistance Mechanism European Stability (ESM) the stability of Greece, subject to the relevant national procedures are completed, “the nineteen in the statement.

The Eurogroup” asks the Greek authorities rapidly adopt on 22 July, “the other measures contained in the declaration of the eurozone summit on 12 July.

also asked to” update legislation related to the set of measures already adopted consistent with the recommendations “which were agreed at that meeting.

With regard to the disbursement of the bridge loan immediately will be debited from the European Financial Stabilisation Mechanism (EFSM) and is backed by the benefits of the Hellenes bonds held by the European Central Bank (ECB).

This credit has yet to obtain the governors backed bailout fund eurozone and several Parliaments, diplomatic sources said.

The release around 7,000 billion EFSM, a fund that is fed by the Community budget and already it used in other bailouts, such as Portugal, so that Greece can make payments and 3,500 million to be returned to the ECB on 20 July.