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You can find the current article at its original source at http://www.theguardian.com/business/live/2016/may/24/eurozone-greek-bailout-debt-relief-business-live
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| Version 24 | Version 25 |
|---|---|
| Greek crisis: Athens to get bailout funds 'in two tranches' - live updates | Greek crisis: Athens to get bailout funds 'in two tranches' - live updates |
| (35 minutes later) | |
| 11.18pm BST | |
| 23:18 | |
| Euronews have produced a handy explanation to the Greek debt crisis - which you can see here. | |
| It includes clips of the anti-austerity protests which gripped Brussels today (as covered earlier today), and saw riot police use water cannons on demonstrators. | |
| Seen on @euronews: The Brief from Brussels: Greek debt still divides the eurozone https://t.co/IXlM9fdnWV pic.twitter.com/XujiMb5V2P | |
| 11.03pm BST | |
| 23:03 | |
| It’s now Wednesday in Brussels, and 1am over in Greece, and still the eurogroup meeting continues. | |
| More seriously, my local pub just rang ‘time at the bar’ :( | |
| 10.46pm BST | |
| 22:46 | |
| Excellent news.... | |
| Back in the #Eurogroup table. Brake over. | |
| That could mean that ministers are ready to sign off an agreement.... | |
| 10.40pm BST | 10.40pm BST |
| 22:40 | 22:40 |
| Heads-up! Eric Maurice of EUobserver reckons eurozone finance ministers might wrap things up in 20 minutes.... | Heads-up! Eric Maurice of EUobserver reckons eurozone finance ministers might wrap things up in 20 minutes.... |
| I hear #Eurogroup now expected to finish around midnight. | I hear #Eurogroup now expected to finish around midnight. |
| 10.33pm BST | 10.33pm BST |
| 22:33 | 22:33 |
| Bong! It’s now eight hours since eurozone finance ministers began today’s meeting, and just 30 minutes until the Brussels bells chime midnight. | Bong! It’s now eight hours since eurozone finance ministers began today’s meeting, and just 30 minutes until the Brussels bells chime midnight. |
| So far, it sounds like they may agree to hand Greece its €11bn aid tranche, but in two installments. | So far, it sounds like they may agree to hand Greece its €11bn aid tranche, but in two installments. |
| But there’s no sign of a breakthrough over how to give Greece debt relief. At least they’re still talking, though.... | But there’s no sign of a breakthrough over how to give Greece debt relief. At least they’re still talking, though.... |
| 10.24pm BST | 10.24pm BST |
| 22:24 | 22:24 |
| Alex White of the Economist Intelligence Unit suspects tough decisions on Greek debt relief could be delayed until after the next German general elections, in autumn 2017. | Alex White of the Economist Intelligence Unit suspects tough decisions on Greek debt relief could be delayed until after the next German general elections, in autumn 2017. |
| #Greece Looks like we will get sufficient disbursement in June, real surplus / debt restructuring debate deferred until after DE elections | #Greece Looks like we will get sufficient disbursement in June, real surplus / debt restructuring debate deferred until after DE elections |
| That may not be acceptable to the IMF, though.... | That may not be acceptable to the IMF, though.... |
| 10.02pm BST | 10.02pm BST |
| 22:02 | 22:02 |
| Cross everything.... | Cross everything.... |
| #Eurogroup still on break. Thats usually a good sign that things could be moving. #Greece | #Eurogroup still on break. Thats usually a good sign that things could be moving. #Greece |
| 10.02pm BST | 10.02pm BST |
| 22:02 | 22:02 |
| OK, I have no idea what this means....but EC spokesman Simon O’Connor just tweeted this catchy tune from Zorba the Greek. | OK, I have no idea what this means....but EC spokesman Simon O’Connor just tweeted this catchy tune from Zorba the Greek. |
| https://t.co/eFGfbHNCsO | https://t.co/eFGfbHNCsO |
| Might it be a sign that talks are speeding up?... | Might it be a sign that talks are speeding up?... |
| 9.49pm BST | 9.49pm BST |
| 21:49 | 21:49 |
| Finland’s finance minister has just tweeted that the eurogroup has taken a break, and that these long days require ‘endurance’: | Finland’s finance minister has just tweeted that the eurogroup has taken a break, and that these long days require ‘endurance’: |
| Euroryhmän neuvotteluissa tauko. Nämä pitkät päivät vaativat kestävyyttä. Onneksi sitä tulee harrastettua. Jaksaa paremmin. | Euroryhmän neuvotteluissa tauko. Nämä pitkät päivät vaativat kestävyyttä. Onneksi sitä tulee harrastettua. Jaksaa paremmin. |
| What would we do without online translation sites, eh? | What would we do without online translation sites, eh? |
| 9.39pm BST | 9.39pm BST |
| 21:39 | 21:39 |
| The Wall Street Journal have a great timeline showing Greece’s debt repayments: | The Wall Street Journal have a great timeline showing Greece’s debt repayments: |
| Greece’s Debt Due: What Greece Owes When | Greece’s Debt Due: What Greece Owes When |
| This chart shows its obligations this year: | This chart shows its obligations this year: |
| Don’t worry too much about the grey lines - they show short-term debt held by Greek banks which can be ‘rolled over’ at regular auctions. | Don’t worry too much about the grey lines - they show short-term debt held by Greek banks which can be ‘rolled over’ at regular auctions. |
| The red and blue lines are important, though - they show money owed to the IMF and the ECB. Defaulting on either creditor would have serious consequences. | The red and blue lines are important, though - they show money owed to the IMF and the ECB. Defaulting on either creditor would have serious consequences. |
| 9.34pm BST | 9.34pm BST |
| 21:34 | 21:34 |
| Splitting Greece’s bailout funds into two tranches would leave Athens’ a little more exposed over the summer. | Splitting Greece’s bailout funds into two tranches would leave Athens’ a little more exposed over the summer. |
| It has to repay around €3bn of long-term debt to its creditors in July, which should be manageable if it receives €7.5bn in loans next month (as is rumoured). | It has to repay around €3bn of long-term debt to its creditors in July, which should be manageable if it receives €7.5bn in loans next month (as is rumoured). |
| Updated | Updated |
| at 9.35pm BST | at 9.35pm BST |
| 9.32pm BST | 9.32pm BST |
| 21:32 | 21:32 |
| Here’s Reuters’ latest report from Brussels, confirming what we’ve been hearing: | Here’s Reuters’ latest report from Brussels, confirming what we’ve been hearing: |
| Euro zone finance ministers are likely to approve new loans to Greece of 10.3 billion euros, according to a draft statement seen by euro zone officials. | Euro zone finance ministers are likely to approve new loans to Greece of 10.3 billion euros, according to a draft statement seen by euro zone officials. |
| The 10.3 billion euros in new loans is likely to be paid out in two tranches, officials said, with the first one in June worth 7.8 billion euros. The amount and timing are not final yet, officials said. | The 10.3 billion euros in new loans is likely to be paid out in two tranches, officials said, with the first one in June worth 7.8 billion euros. The amount and timing are not final yet, officials said. |
| The disbursement was conditional on Greece delivering on reform promises. | The disbursement was conditional on Greece delivering on reform promises. |
| 9.16pm BST | 9.16pm BST |
| 21:16 | 21:16 |
| Our own Jennifer Rankin confirms that Greece may get its aid loans in two portions, not all in one lump as expected: | Our own Jennifer Rankin confirms that Greece may get its aid loans in two portions, not all in one lump as expected: |
| She’s also hearing that negotiations over debt relief for Athens are continuing... | She’s also hearing that negotiations over debt relief for Athens are continuing... |
| Smoke signals from the #eurogroup: #Greece likely to get 7.5bn in June and 2.8bn in September in bailout payments. | Smoke signals from the #eurogroup: #Greece likely to get 7.5bn in June and 2.8bn in September in bailout payments. |
| Talks continue on debt roadmap: short, med and long term debt relief. Measures going back and forth among each, source. #eurogroup #greece | Talks continue on debt roadmap: short, med and long term debt relief. Measures going back and forth among each, source. #eurogroup #greece |
| 9.10pm BST | 9.10pm BST |
| 21:10 | 21:10 |
| A Slovak government advisor tweets that eurogroup ministers are taking a break. | A Slovak government advisor tweets that eurogroup ministers are taking a break. |
| this is something we all love ...The Waiting :)) #Eurogroup on break. #Greece #eurozone #IMF pic.twitter.com/7BnmJs8Imy | this is something we all love ...The Waiting :)) #Eurogroup on break. #Greece #eurozone #IMF pic.twitter.com/7BnmJs8Imy |
| I hate to rush you, guys, but it’s 11pm in Greece and our dear readers may need their sleep..... | I hate to rush you, guys, but it’s 11pm in Greece and our dear readers may need their sleep..... |
| 9.07pm BST | 9.07pm BST |
| 21:07 | 21:07 |
| Greece could get bailout funds in two tranches | Greece could get bailout funds in two tranches |
| A few journalists in Brussels are reporting that Greece’s bailout payment is going to be split into two instalments. | A few journalists in Brussels are reporting that Greece’s bailout payment is going to be split into two instalments. |
| Efi Koutsokosta of Euronews has the details: | Efi Koutsokosta of Euronews has the details: |
| Greek gov srcs: the bailout tranche of 10,3 bn euros will be given in 2 sub tranches (7,5 bn in June, 2,8 bn in Autumn) #Greece #Eurogroup | Greek gov srcs: the bailout tranche of 10,3 bn euros will be given in 2 sub tranches (7,5 bn in June, 2,8 bn in Autumn) #Greece #Eurogroup |
| If so, that could mean that creditors aren’t totally happy with the measures approved by Athens last weekend. Or it could mean something else.... | If so, that could mean that creditors aren’t totally happy with the measures approved by Athens last weekend. Or it could mean something else.... |
| 9.05pm BST | 9.05pm BST |
| 21:05 | 21:05 |
| Over in New York, Wall Street has just closed for the night with gains across the board. | Over in New York, Wall Street has just closed for the night with gains across the board. |
| Banks and tech stocks led the rally, as investors appeared to stop worrying about the prospect of a US rate rise. | Banks and tech stocks led the rally, as investors appeared to stop worrying about the prospect of a US rate rise. |
| The Dow Jones index finished 211 points higher at 17,704 points, a jump of 1.2%, following a strong day in Europe. | The Dow Jones index finished 211 points higher at 17,704 points, a jump of 1.2%, following a strong day in Europe. |
| 8.54pm BST | 8.54pm BST |
| 20:54 | 20:54 |
| Today’s problem in a nutshell: | Today’s problem in a nutshell: |
| #Greece #euro group ongoing as Schaeuble tries to square the circle of disbursing with the #IMF onboard while not giving any debt relief now | #Greece #euro group ongoing as Schaeuble tries to square the circle of disbursing with the #IMF onboard while not giving any debt relief now |
| 8.50pm BST | 8.50pm BST |
| 20:50 | 20:50 |
| Rumblings of discontent in Brussels.... | Rumblings of discontent in Brussels.... |
| I hear that three #Eurogroup ministers are furious that Tsipras changed EKAS social benefit scheme without Institutions' consent. | I hear that three #Eurogroup ministers are furious that Tsipras changed EKAS social benefit scheme without Institutions' consent. |
| Break (long in duration) at #Eurogroup for further talks on #Greece acc to @NikosSverkos https://t.co/6vBmJ7VBpQ | Break (long in duration) at #Eurogroup for further talks on #Greece acc to @NikosSverkos https://t.co/6vBmJ7VBpQ |