Eurozone given bridge loan option for Greece
Eurozone finance ministers meeting Friday to approve a third Greek bailout will also have on the table a bridging loan option to allow Athens to meet a debt repayment if there is no accord, the European Commission said.
Greece must pay the European Central Bank some 3.4 billion euros on August 20 and is hoping the agreement on a new bailout will provide the funds.
Commission spokeswoman Annika Breidthardt said the third programme -- worth 85 billion euros over three years in return for sweeping austerity and reform measures -- had been presented to the Eurogroup for Friday's meeting.
The Economic and Financial Committee which groups all 28 EU members to help coordinate economic policy, had agreed to submit a document on a bridge loan as a contingency plan, Breidthardt told reporters.