Greece, unlocked aid. Athens receives the money to pay off debts – The Messenger

Greece may access the financial aid after the okay came from the board of the European Stability Mechanism (ESM). The European fund salvastati gave its green light to the proposed agreement on financial assistance to Athens that will begin to repay its creditors.

The agreement reached last week provides a rescue package of 86 billion euro, three years. It will be immediately available an initial tranche of aid from 26 billion Euros required to honor maturing debts and recapitalize the Greek banks.

The ESM has made available a 16 billion tranche: 13 today that They will be used to finance the budget and the debt while the remaining 3 billion will be granted by the end of November. The remaining 10 billion marks, which are part of the tranches of 26 billion, will be paid by the ESM through floating rate notes and will support potential bank recapitalisations.

Today expires on loan from 3.4 billion ( 3.2 billion of capital to 200 million in interest) granted by the European Central Bank. The greek government has yet to honor debts to 7.16 billion bridge loan Eurogroup last month.

 August 20, 2015 15:20 – Last Updated: 15:40

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