Many measures in the deal have recessionary effects – Greece’s Tskalotos

FXStreet (Mumbai) - Greek Fin Min Tskalotos was on the wires today stating that many measures in the deal have recessionary effects and that his country never said all targets could be achieved.

Meanwhile, it is being reported that the EU is planning for a Greek bridging loan is for EUR 7 billion for 3 months.

The loan financing would come with conditions, which would be set by the European Central Bank (ECB) under the European Financial Stability Mechanism (EFSF) plan. The reports say the EU shall borrow funds for the plan.