EU GRANTED GREECE THE FINAL LOAN WITHIN ESM BAILOUT PROGRAM




Mustafa AY – TDO – 08.08.2018 On Monday, EU Commission’s Fiscal Stability Mechanism (ESM) granted Greece the final bailout loan -15 billion euros-. According to ESM’s statements, Greece will allocate 9.5 billion euros of bailout loan to endorse financial needs. Athens will use the remaining 5.5 billion euros to pay off some of its foreign debt.

German Federal Paliament (Bundestag) didn’t approved final bailout loan’s transfer to Greece because Athens did not meet all requirements. However, on previous Wednesday, German Bundestag Budget Commission arranged a special session to approve the bailout loan’s transfer to Greece. So, with the last payment, Greece has received third successive rescue loan from EU.