ESM Loan to Greece Officially Approved

ESM2012The European Stability Mechanism (ESM) 86-billion-euro loan to Greece was approved during a teleconference on Wednesday evening.

The decision came after the Eurogroup approved the third Greek bailout package last Friday and the Eurozone countries officially ratified the bailout this week, with Germany’s parliament endorsing the deal earlier on Wednesday.

The approval of the loan was revealed by European Commission Vice President Valdis Dombrovskis via Twitter: