WorldNews Posted July 17, 2015 Share Posted July 17, 2015 The European Stability Mechanism, the euro zone's bailout fund, decided on Friday formally to open negotiations with Greece on a third bailout program that could total 86 billion euros ($93.3 billion) over three years, the fund said in a statement. The decision ends a stormy week of negotiations, organizing bridge financing by the euro zone and rushing through of reforms by the Greek parliament to avoid a Greek default on the European Central Bank on Monday, July 20. "This... decision paves the way for the institutions to negotiate a Memorandum of Understanding (MoU) detailing the agreed macroeconomic reforms, or policy conditionality, linked to the ESM financial assistance facility," the ESM said. Continue reading... Quote Link to comment Share on other sites More sharing options...
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