That tranche is due in mid-August 2015, according to the letter, seen by Reuters, in which Schaeuble asked parliament to agree to open talks on a third bailout.
(AP Photo/Thanassis Stavrakis). Greece’s Prime Minister Alexis Tsipras reads his notes during a parliament meeting in Athens, Thursday, July 16, 2015.
European equities also traded sharply higher after Prime Minister Alexis Tsipras’ reform plan was pushed through.
Protesters threw dozens of petrol bombs and hurled stones at the police, who responded with clouds of tear gas. Greece has a tentative rescue deal, but relief that it is not falling out of the euro is unlikely to last lon…
Speaking at the national economic dialogue, Mr Noonan said Greece’s creditors had already agreed to re-examine the debt burden in the wake of the first review of its third bailout once it gets under way.
The finance ministers in Europe’s 19-nation euro currency bloc took the actions just hours after Greek lawmakers earlier in the day approved the tough austerity reforms demanded by Athens’ creditors.
“Things have changed. We had a series of news with the approval of the bridging financial package with the votes, the various votes in various parliaments – to begin with, in the Greek parliament – which have now restored the conditions a raise in the ELA”.
Eurozone nations are giving Greece a bridge loan worth 7 billion euros to pay off some very pressing debts.
The ECB president, Mario Draghi, announced the extension of aid to the country’s banks while backing the idea – championed by the global Monetary Fund but rejected by Germany – that some of Greece’s debts will have to be written off.
Greek banks have been closed since June 29 as the result of an earlier ECB decision to freeze its Emergency Liquidity Assistance.
Greece’s banks may be able to reopen for the first time in three weeks on Monday, after eurozone policymakers handed them a much-needed lifeline.
Other analysts said that he would no doubt eventually have to form a new unity government with other parties.
The interior minister, Nikos Voutsis, suggested elections could follow in the autumn as Tsipras seeks a mandate to press ahead with austerity measures.
“I had specific choices before me: one was to accept a deal I disagree with on many points, another was a disorderly default”, he said in an impassioned speech to parliament before the vote.
The measures, including Value-Added Tax increases and pension curbs, passed amid opposition from within The governing Syriza party and anti-austerity demonstrations which descended into violence. Speaker Zoe Constantopoulou and former finance minister Yanis Varoufakis opposed the bailout.
However his position as head of government faces no serious internal challenge and he is expected to reshuffle his cabinet to remove dissident leftists. “The prime minister’s and the government’s priority is the successful conclusion of the agreement in the immediate future”.
The Greek parliament approved a package of tough reforms demanded by the country’s creditors in return for a bailout.
A withdrawal limit of 60 euros ($67) a day would stay in place, he said, though Greek authorities were working on a plan to allow people to rollover access to their funds.
Greece desperately needs the ECB to start letting Greek banks tap emergency central bank credit.
Before the austerity vote, a few 12,000 demonstrators had gathered outside parliament in the biggest protest against the government since Tsipras won elections in late January.