Germany considers “difficult” to meet deadlines for new bailout of Greece – LT10Digital

The German government finds it difficult to meet the timetable for approving a third rescue package for Greece, the German magazine “Focus” reported.

The special session of the German parliament (Bundestag) scheduled for mid-August should be postponed, the publication wrote about the necessary vote in the Bundestag before it can enter into force aid for Athens.

In his opinion the set timetable is too tight. Negotiations on the third package will end on August 10. Following a vote by the finance ministers of the eurozone on August 11, the States of the euro zone must ratify the agreement and Parliament must approve Athens, like the Bundestag.

A delay in the timing of payments pose a problem for Greece must return to the European Central Bank (ECB) prior to August 20 3,200 million euros (3,500 million dollars).

Therefore, within the European Commission it speaks of a liquidity short term the European Financial Stabilisation Mechanism (EFSM, for its acronym in English). However, this is complicated because the EU countries outside the eurozone does not want to participate.