Financial markets welcomed the words of Greek Prime Minister Alexis Tsipras enthusiastically after he said “we are in the final stretch (…) despite the difficulties we are facing we hope this agreement can end uncertainty on the future of Greece.” An agreement between Greece and its creditors must be found by August 20, 2015 when the former will have to pay back €3.5 billion to the European Central Bank (ECB).
On the side of Tsipras’ party Syriza, there’s hope that aid up to €25 billion will be obtained rather than just a bridge loan. However possible counterparties remain to be specified while some Syriza officials warned they’d reject new prior concessions. Also, Greek media said that around €10 billion would re-capitalize the banks pursuant to the massive capital outflow in recent months. One can thus wonder if such a plan would rather be saving time rather than helping to re-launch a Greek economy able, in the long run, to pay its creditors all by itself.