After the first payment of the new emergency rescue program today Greece repay its contribution to the European Central Bank with maturity August 20, reported Bloomberg, citing government sources in Athens.
Thus Athens back in time credit of 3.2 billion. Euros and interest in the amount of 200 mln. Euros. Hidden Field
Earlier it became clear that the Luxembourg-based European Stability Mechanism (ESM) has translated the Greek first tranche of EUR 13 billion. Euros from international financial assistance, said the press service of the Fund.
Another 10 billion. Euro from the first tranche will be submitted to a separate account for the recapitalization of Greek banks and another 3 billion. Euros from the first tranche totaling EUR 26 billion. Euros will be allocated to October.
Moreover, the funds will allow the return of an interim loan of 7.16 billion. Dollar, which was granted by the EU to Greece in July this year. The amount was needed to pay the previous debt to the ECB and the overdue debts to another creditor - the International Monetary Fund.
The decision to grant the first tranche was taken Wednesday night by the Administrative Board of the ESM, which is composed of the finance ministers of the euro area.
If Greece was able to repay the contribution of 3.4 billion. Euro is likely the ECB will have no choice but to shut off the funding to the country, which would have disastrous consequences for the economy.