Greek coalition left with bailout exit conditions it wanted to avoid

PoliticsGreek Politics Tags: SYRIZA
Photo by MacroPolis
Photo by MacroPolis

Eurozone finance ministers have agreed that Greece should be given a precautionary credit line when the European part of its bailout is completed at the end of the year but the new agreement will entail new conditionality, a role for the International Monetary Fund and debt relief talks being put at the back burner – all factors that the coalition wanted to avoid for domestic reasons.

Eurogroup chief Jeroen Dijsselbloem confirmed on Thursday night that there was an agreement that Greece should proceed with a European Stability Mechanism (ESM) tool called Enhanced Conditions Credit Line (ECCL).

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