European Commission

A European Commission spokeswoman on Friday praised the approval by Greek lawmakers of a bailout memorandum agreement with institutional lenders.

Bild reports that the cash-strapped Greek government is in line to receive 6.04 billion euros in the form of a “bridge loan” if euro zone finance ministers fail to agree on a third bailout for during a Friday meeting in Brussels.

The Greek Parliament approved on Friday the draft terms of a third bailout programme amounting to nearly EUR 85 B.

In order to be granted the bailout by its international creditors, Greece will have to implement a set of reforms, which include tax rises, pension and other spending cuts.

Greek PM Alexis Tsipras had consecutive phone contacts with French President Francois Hollande, European Commission President Jean-Claude Juncker and the head of the Progressive Alliance of Socialists and Democrats Gianni Pittella on Thursday evening ahead of Friday’s Eurgroup meeting.

The Financial Times reports that Brussels backs the IMF’s position over a Greek debt relief. Germany is being isolated, as it is persisting in ruling out any type of conventional debt relief. The article points out that EU institutions examining the viability of the new Greek bailout plan express their ‘serious’ doubts over whether the country’s debt is sustainable.

Greece might be forced into abandoning the 26% withholding tax it imposed in March on all transactions from sources in Bulgaria, Cyprus and Ireland, recent media reports suggest.

European Commission President spokesperson Annika Breidthardt said the agreement between Greece and the EU institutions will be discussed between the members of the European Financial Committee (EFC) via a new teleconference on Wednesday.

Prime Minister Aleksandar Vucic's initiative for establishing a joint remembrance day for all victims of the wars of the 1990s "is a great step forward."

The 28 EU Finance Ministers have essentially given their approval of the deal reached between Greece and the Quartet paving the way for the agreement to pass on to a political agreement with EU countries to bring the deal for ratification in their national parliaments.

"The European Union is not planning to build large migrant centers either in Serbia or elsewhere," an European Commission (EC) representative has said.

Heinz Miko, a spokesman for the EC in Austria, also said on Tuesday that EU's financial assistance was possible, but only to help solve "the most urgent humanitarian needs."