Greece Repays €6.8 Billion To Creditors Using Bridge Loan: Reports

By Sara SjolinMarketWatch Pulse

Athens on Monday spent a large chunk of its bridge loan from the EU to repay its international creditors, including the International Monetary Fund and the European Central Bank, media reports said. The Greek government paid 4.2 billion euros ($4.56 billion) in principal and interest to the ECB that were due on Monday and cleared €2.05 billion in arrears to the IMF. Greece also repaid €500 million to the Greek central bank, according to Reuters. The EU on Friday approved a bridge loan of €7.16 billion to Greece, aimed at helping the government meet its Monday repayment to the ECB. Greece's banks reopened on Monday after being shut for three weeks, although most of the capital controls remained in place. The country's stock market stayed closed.

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