European Union
German Bundestag Approves Greek Bailout Agreement
The German Bundestag approved on Friday the terms of the third bailout agreement, which Greece and the leaders of the eurozone had negotiated on Monday.
Germany's lower house of parliament approved the reopening of financial negotiations with Greece with 439 MPs voting in favour, 119 voting against, while 40 abstained, Deutsche Welle reports.
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Photo going viral: Draghi smiles as Schaeuble looks stern
European Central Bank Chief Mario Draghi raised ELA by 900 bn euros for Greece. He said that there were some who wanted the ECB to terminate it that would have crashed the banking sector… For whom did the bell toll?
Germany to vote on Greek bailout in crucial test for deal
Chancellor Angela Merkel was to rally German lawmakers on July 17 to back talks for a new Greece bailout deal, a day after the parliament in Athens grudgingly agreed to harsh reforms.
Bulgarian Parliament's Budget Commitee Approves Anti-Graft Draft Bill
The budget and finance committee in Bulgaria's parliament approved on first reading the draft bill on the prevention of corruption among senior public officials on Thursday, BGNES reported.
FT: ECB Moves to Reassure Bulgaria, Romania on Greek-Owned Banks
The European Central Bank (ECB) has introduced secret credit lines to Bulgaria and Romania to avoid fallout from the Greek crisis, the Financial Times reported on Thursday.
Banks in Greece to Reopen Monday after ECB Boosts Emergency Lending
Banks in Greece will reopen on Monday, Greek news agency ANA-MPA reported on Thursday, citing banking sources.
The daily limit of EUR 60 for cash withdrawals will remain in force but account holders will now be able to skip going to an ATM one day and withdraw EUR 120 the following day.
The change aims to cut queues at bank branches and ATMs, ANA-MPA said.
Eurozone Finance Ministers Agree In Principle to EUR 7 B Bridge Loan for Greece
Eurozone finance ministers have agreed in principle to grant a EUR 7 B bridge loan to Greece.
More information on the loan is expected to be announced on Friday once technical details are sorted and parliaments in several EU member states have approved the bailout deal.
The loan will come from the European Financial Stabilisation Mechanism (EFSM), Bloomberg informs.
Dijsselbloem is a man's man, but with a splash of pink! (pics)
Dutch finance minister Jeroen Dijsselbloem was re-elected president of the Eurogroup on Monday, July 13 – the same day that Greece passed through a string of EU-endorsed austerity measures.
Schauble persists with 5-year Grexit plan
German Finance Minister Wolfgang Schauble ruled out the possibility of a nominal hair-cut on the Greek debt in an interview to German state radio Deutschlandfunk, Thursday.
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ECB meets on ELA increase for Greek banks
After the Greek parliament passed the set of prerequisite measures as demanded by the EU institutions, all eyes are on the European Central Bank (ECB) meeting in Frankfurt Thursday. The ECB is expected to announce its decisions on whether it will raise the ELA level for the suffocating Greek banks, which have been closed for nearly 3 weeks.
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