Euro-zone members floated the idea of using the European Financial Stabilization Mechanism to provide a bridge loan for Greece. This is the old fund that involves all 28 European Union members and not only the euro-zone. The idea, raised by the European Commission, has angered the UK. Chancellor George Osborne called his German colleague Schaeuble to kill the idea before it became a deal. Using the EFSM requires only a qualified majority, making it easy to tap, but politically damaging, as it may strengthen the euro-skeptics. According to the Greek deal, bridge funding would be allocated in a short time in order for the debt stricken country to pay the IMF and the ECB. Greece is already at arrears with the IMF and owes the ECB some 3.5 billion euros. The Greek crisis is far from over. After conceding to the absurd demands from Germany, Prime Minister Alexis Tsipras faces trouble at home. He will find it hard to gather support from his own party and his coalition partner ANEL. Revelations by former finance minister Yanis Varoufakis show that the Eurogroup was never negotiating with goowill. Greek crisis – all the updates In our latest podcast we clarify Greece and also China, oil, AUD and more: Follow us on Stitcher. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next AUD/USD to 0.70 in 12 months – 5 reasons Yohay Elam 7 years Euro-zone members floated the idea of using the European Financial Stabilization Mechanism to provide a bridge loan for Greece. This is the old fund that involves all 28 European Union members and not only the euro-zone. The idea, raised by the European Commission, has angered the UK. Chancellor George Osborne called his German colleague Schaeuble to kill the idea before it became a deal. Using the EFSM requires only a qualified majority, making it easy to tap, but politically damaging, as it may strengthen the euro-skeptics. According to the Greek deal, bridge funding would be allocated in a short time… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
