Greece will receive a €7.16 billion loan on Monday (20 July) after EU member states agreed to use the European Financial Stabilisation Mechanism (EFSM) to provide the money.
The loan "will allow Greece to clear its arrears with the International Monetary Fund (IMF) and the Bank of Greece and to repay the European Central Bank (ECB)", the Council of the EU said in a statement.
Greece owes €2 billion to the IMF and is due to repay €4.2 billion to the ECB on Monday.
ECB chief M...
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? Login