In the early morning of 13 July, after seventeen hours of negotiations and after an almost equally long meeting of Finance Ministers in the Eurogroup, the Euro Summit agreed to start negotiations on a support programme for Greece under the European Stability Mechanism (ESM). This programme will be subject to strict conditions and will be accompanied by a growth and employment package in the order of €35 billion. Several parliaments, including the Greek parliament, will have to give their blessing before the formal start of negotiations. Finance Ministers will also discuss short-term bridge financing for Greece. During the press conference this morning President Juncker said: “There will not be a ‘Grexit’…I am satisfied both with form and substance of the agreement”. Access to the full press conference and comments from the Summit participants are available on EbS.
Opinion & Analysis
Populist gegenpressing: Why the EU shouldn’t expect Orban to back off
European Council on Foreign Relations (ECFR)
Dec 8, 23