Europe moves to restore funding to Greece after bailout vote

News Manager

Milforums News Bot
By Lefteris Karagiannopoulos and George Georgiopoulos ATHENS (Reuters) - Europe moved to re-open funding to Greece's stricken economy on Thursday after the parliament in Athens approved a new bailout program in a fractious vote that left the government without a majority. The European Central Bank increased emergency funding for Greek lenders, although capital controls will have to remain in place to avoid a run on the banks when they reopen on Monday. European Union finance ministers also approved 7 billion euros ($7.6 billion) in bridge loans to Greece, allowing it to make a bond payment to the ECB next Monday and clear its arrears with the International Monetary Fund.




More...
 
Back
Top