Hours after Greece had officially defaulted on its bailout loan from the International Monetary Fund; Eurozone ministers were already discussing terms of a new bailout loan to keep the country afloat.
Officials today will decide whether or not an emergency loan to Greece from the European Central Bank. The meeting where ECB ministers will decide as much is only the first of two meetings that are to happen this afternoon, the other being in regards to Greece’s request for a new bailout amounting in nearly 30 billion Euros and lasting two years.
Many expect a tidy end to a short-lived crisis to take place at the ECB today, with only the actual terms of the bailout agreement being settled, not the issue of whether or not a bailout will be extended. At this point, the question seems to be whether the ECB wants Greece to default on the IMF or whether Greece needs the Eurozone,