So the ECB has agreed to raise its limit on emergency loans to Greek lenders by a further €900m over one week. And acting on the assumption Greece will stay in the Euro, the plan was finalized to provide a €7bn bridging loan to avoid a default on Monday. In response, the Tsipras government has caved in over EU’s insistence on more austerity – tax up, pensions down. So Eurozone finance ministers have agreed to talk about an €86bn rescue package.
What does it all mean?
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