The Traderszone Network

Published in TZ Latest News 7 August, 2015 by The TZ Newswire Staff

German Finance Ministry favors bridge loan for Greece: paper

Germany’s Finance Ministry favors a bridge loan for Greece to give Athens and its creditors sufficient time to negotiate a comprehensive third bailout, the Sueddeutsche Zeitung daily reported on Friday. Greece is in negotiations with the European Union and International Monetary Fund for as much as 86 billion euros ($94 billion) in fresh loans to stave off financial ruin and economic collapse. A 3.5-billion-euro debt payment to the European Central Bank falls due on Aug. 20 and without a bailout deal, Athens would need bridge financing.