Dijsselbloem: Greece Will Request Rescue Program On Wednesday

Eurogroup President Jeroen Dijsselbloem said on Tuesday afternoon that debt-laden Greece will submit a request for financial assistance through the European Stability Mechanism as soon as Wednesday. The ESM is the eurozone's bailout fund and has so far only provided loans to Spain and Cyprus. Greece's previous bailout program that expired at the end of June was partly granted through the temporary crisis mechanism, the European Financial Stability Facility. Dijsselbloem said the eurozone finance ministers will hold a conference call on Wednesday to discuss Greece's request for ESM assistance. The Eurogroup president also confirmed that Greece didn't submit any new reform proposal at the meeting on Tuesday.