greek bailout tranche disbursed on time as government considers snap polls
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Greek bailout tranche disbursed on time, as government considers snap polls

Arab Today, arab today

Arab Today, arab today Greek bailout tranche disbursed on time, as government considers snap polls

Greek PM Alexis Tsipras
Athens - XINHUA

The first tranche of the new Greek bailout program, the third in five years, was disbursed on Thursday on time allowing Athens to repay its maturing debts to international creditors, the finance ministry announced.

The announcement came as Prime Minister Alexis Tsipras was holding a meeting with his close aides and advisors to examine the prospect of calling snap general elections this autumn, government sources said.

Following the ratification of the new 86-billion-euro-worth (96 billion U.S. dollar), three-year bailout by the European Support Mechanism on Wednesday evening, the first loan installment of a total of 26 billion euros was paid out, the national Greek news agency AMNA reported.

About 13 billion euros were allocated to a special account at the Bank of Greece to automatically repay a 3.4-billion-euro debt to the European Central Bank (ECB) due on Thursday, a 2.2 billion euro debt to the International Monetary Fund (IMF), and the rest to pay off the 7 billion euro bridging loan ESM granted to the country in July.

Furthermore, 10 billion euros in the form of European Financial Stability Facility bonds will be used to recapitalize Greek banks, while one billion euros will be used for the payment of overdue obligations of the Greek government to the private sector.

The development clears the way for the premier to decide on his next steps in the domestic political scene, analysts in Athens noted.

According to government sources, Tsipras was considering requesting a new confidence vote in his government soon and, in case of failure to win back his party's "rebels", will call snap elections for September or October.

With dissidents within the ruling Syriza party openly blasting the government of making a U-turn on the anti-austerity platform that brought the party to power last January, early polls seem almost inevitable, according to cabinet ministers, opposition parties, and local media.

According to government sources, Tsipras was thinking about calling a ballot as early as Sept. 13.

The second idea is to hold the elections later in October so that the government passes some bailout policies through the parliament first, on time for the first assessment by creditors that will pave the way for the discussion on the Greek debt relief.

In order to ensure that the measures will be ratified by the assembly with no problems from Syriza MPs (members of the parliament), the premier could close the plenary so that the draft bills are put to vote in reduced summer parliamentary sessions where he can control the appointment of Syriza deputies.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

greek bailout tranche disbursed on time as government considers snap polls greek bailout tranche disbursed on time as government considers snap polls

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

greek bailout tranche disbursed on time as government considers snap polls greek bailout tranche disbursed on time as government considers snap polls

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday