EU says 'entirely feasible' eurozone will endorse Greek bailout deal

EU says 'entirely feasible' eurozone will endorse Greek bailout deal
Greece's Prime Minister Alexis Tsipras talks to the media as he arrives at a Euro zone leaders summit in Brussels, Belgium, July 12, 2015.
PHOTO: Reuters

BRUSSELS - The EU said it is "entirely feasible" that eurozone finance ministers meeting in Brussels later Friday will endorse a multi-billion euro bailout deal approved by the Greek parliament.

"We are encouraged by the strong vote this morning in the Greek parliament," European Commission spokeswoman Annika Breidthardt told a press conference.

The Commission, the executive arm the 28-nation EU, is "confident that on this basis, and on the basis of the ambitious agreement that was reached between the (creditor) institutions and the Greek government, a positive outcome is entirely feasible today," Breidthardt said.

Greek lawmakers approved a third bailout for Greece worth 85 billion euros ($95 billion) in return for further tough reforms, following a bitter all-night debate.

The finance ministers of the 19-country eurozone were due to meet in Brussels shortly to give their verdict on the deal.

Greek Prime Minister Alexis Tsipras said that failure to ratify the accord in parliament would enable Germany to push forward its alternative proposal to provide Athens with a bridging loan to cover a debt repayment due August 20 to the European Central Bank.

Berlin, Europe's paymaster, insists it needs further clarification from Greece on what it has agreed to in return for what will be a third bailout before giving the deal the nod.

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