Germany Says It Can’t Back Greek Bailout Plan Yet
Germany’s government withheld approval of the draft bailout plan for Greece, saying a bridge loan remains an option if a full aid program isn’t agreed in time for a payment to the European Central Bank due next week.
Greek flags in central Athens.
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Germany’s government withheld approval of the draft bailout plan for Greece, saying a bridge loan remains an option if a full aid program isn’t agreed in time for a payment to the European Central Bank due next week.
Euro-area governments need time to assess the preliminary accord between Greece, its international creditors and the European Stability Mechanism before possible approval of a proposed 85 billion euros ($95 billion) in aid, Finance Ministry spokesman Juerg Weissgerber said Wednesday. The ministry expects to have a position on the draft memorandum of understanding by the end of the week, he said.