Today the Board of Directors of the European Stability Mechanism (ESM) approved the fourth tranche of €6.7 billion of ESM financial assistance for Greece. This decision follows the Greek government’s completion of all prior actions and the subsequent approval of the Supplemental Memorandum of Understanding by the ESM Board of Governors. The tranche will be used for debt service, domestic arrears clearance and for establishing a cash buffer. The Board also approved an amendment to the Financial Assistance Facility Agreement (FFA) between the ESM and Greece.
read more...↧