07-08-15

Germany sees need for further bridging loan for Greece to repay ECB

It does not look like there will be a swift agreement with Greece, cep economist Bert Van Roosebeke tells Focus Online

Greece urgently needs further aid before August 20

The German government does not believe that a deal on the conditions for a new bailout for Greece can be reached on time for Athens to make its next repayment to the ECB, German daily Bild reported citing a senior German government official. The official said that there might have to be a second bridging loan for Greece. The country is due another repayment of 3.4 billion euros to the ECB on August 20. Already on Tuesday, cep economist Bert Van Roosebeke told Focus Online that “it does not look like there will be a swift agreement” with Greece. Rather, a second bridging loan is likely, he said.