Greece Asks For Money From Eurozone's Bailout Fund

By Sara SjolinMarketWatch Pulse

Greece has formally submitted a request for a eurozone loan through the currency union's bailout fund, the European Stability Mechanism, an ESM spokesperson said on Wednesday.The request was widely expected after Eurogroup President Jeroen Dijsselbloem said Tuesday that Greek authorities were just a day away from asking for financial help via the ESM. Eurozone finance ministers are due to discuss the ESM application in a conference call later on Wednesday. The bailout mechanism has so far only provided loans to Spain and Cyprus. Greece's previous bailout program, which expired at the end of June, was partly granted through the temporary crisis mechanism, the European Financial Stability Facility.

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