Economics
EU Squeezed $7.8 Billion Greek Bridge Loan Via ESM Loophole
- `Fully compliant' with the ESM investment guidelines
- Highlights how ESM can be `political animal': Kirkegaard
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Who do you call on for 7 billion euros ($7.8 billion) at short notice to tide over a country like Greece for a month?
That was the dilemma euro-area policy makers faced in July as they raced to complete a bailout for Greece and prevent the country from defaulting on the European Central Bank.