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Greece debt crisis: Bailout talks given go-ahead

July 17, 2015 8:19 pm

Greece and its creditors can formally start talks on the country’s third bailout after the necessary eurozone parliaments gave their backing

The final approval came from the German parliament after an impassioned and at times ill-tempered debate.

A €7bn (£5bn) bridging loan has also been confirmed for Monday, when Greece has big debt repayments to make.

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The head of the Eurogroup said there was now a chance to get the Greek economy back on track.

But Jeroen Dijsselbloem warned that the process would not be easy, saying he expected the negotiations to take four weeks.

Meanwhile, Greek Prime Minister Alexis Tsipras reshuffled his cabinet on Friday, a day after some members of his left-wing Syriza party rebelled during a vote on the bailout deal.

Energy minister Panagiotis Lafazanis, one of the hardline rebels, was among those replaced

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