Timeline to new Greek bailout
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JUL 1 Greek Prime Minister Alexis Tsipras asks Eurogroup – eurozone finance ministers – for new bailout of €29.1 billion

JUL 3 German Bundestag starts summer recess. Parliament reconvenes on September 7

JUL 5 Referendum Greek voters are almost evenly split ahead of ballot on accepting more austerity measures. Tsipras says “NO” vote will give him more leverage in talks on new bailout programme

WEEK OF JUL 6 If vote is “YES”, Dutch finance minister Jeroen Dijsselbloem – Eurogroup President – will ask European Commission, European Central Bank (ECB) and International Monetary Fund to negotiate Memorandum of Understanding (MOU) detailing fresh austerity conditions that Greece must accept

WEEK OF JUL 13 If Greek government agrees to MOU then eurozone governments
must approve new bailout. German Bundestag will need to be recalled

JUL 20  Bailout must be available for Athens to pay bond redemptions to ECB
€3.5 billion
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Source: Bloomberg, Financial Times

Pictures Associated Press

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