ECONOMY

Dijsselbloem says bridge financing for Greece will not be easy

Dijsselbloem says bridge financing for Greece will not be easy

The eurozone's top official says it's not easy to find a way to get Greece a short-term cash infusion that will help it meet upcoming debt repayments.

Arriving for Tuesday's meeting of the 28 finance ministers of the European Union, Jeroen Dijsselbloem said discussions will take place over the coming couple of days on how to get Greece so-called bridge financing.

Greece does not have the money to make a 4.2 billion euro ($4.7 billion) payment to the European Central Bank on July 20. Greece is also in arrears to the IMF by around 2 billion euros.

It will take about four weeks for Greece to get access to its new bailout program, which was agreed upon in a preliminary deal on Monday.

Dijsellbloem says ministers are looking at all possible instruments and funds but all have "disadvantages or impossibilities or legal objections."

[AP]

Economy Euro

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.

READ MORE
A look at the agreement between Greece, eurozone
ECONOMY

A look at the agreement between Greece, eurozone

ECB keeps Greek bank-aid cap in place as parl’t vote awaited
ECONOMY

ECB keeps Greek bank-aid cap in place as parl’t vote awaited

Greek banks to stay shut for now, finance ministry says
ECONOMY

Greek banks to stay shut for now, finance ministry says

Greek bailout needs set at 82-86 bn euros, says eurozone document
ECONOMY

Greek bailout needs set at 82-86 bn euros, says eurozone document

Greek ‘time-out’ from euro is an option, says eurozone document
ECONOMY

Greek ‘time-out’ from euro is an option, says eurozone document

Eurogroup draft on demands for Greek reforms
ECONOMY

Eurogroup draft on demands for Greek reforms