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> Economy

Bild: Plan B is ‘bridge loan’ if no agreement at Fri. Eurogroup

Temporary financing would allow crisis-plagued Greek government to meet obligations this month

Newsroom August 14 01:37

Bild reports that the cash-strapped Greek government is in line to receive 6.04 billion euros in the form of a “bridge loan” if euro zone finance ministers fail to agree on a third bailout for during a Friday meeting in Brussels.

The German tabloid cited European Commission proposal for the meeting, under which the bridge loans should run for a maximum of three months, Bild said in an advance copy of an article due out on Friday.

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Greek Finance Minister Euclid Tsakalotos in Parliament debate on Thursday warned against another temporary loan to meet immediate debt repayments, calling on lawmakers to approve a new, three-year bailout deal.

“I think whatever everyone’s stance on the euro and on whether this is a good or bad accord, there must be no one who is working toward a bridge loan,” he said.

Athens must make a 3.2-billion-euro payment to the European Central Bank on Aug. 20.

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