Irish PM says 7 bln euro Greek loan set to be approved

Senior officials working for European Union finance ministers have recommended lending Greece 7 billion euros in bridging funds with formal approved expected later on Thursday, Irish Prime Minister Enda Kenny said.

The Eurogroup of eurozone finance ministers held a teleconference on Greece earlier on Thursday and are due to consult with the nine other finance ministries in the EU this afternoon to agree the release short-term funding for Athens.

"The 7 billion in terms of the short-term loan has now been authorized by the Ecofin group, that will be approved later in the afternoon I would expect," Kenny said on national broadcaster RTE.

He was referring to the senior officials working for the 28 EU finance ministers.

"It will also mean, I would expect, and I can't comment on its independence, that Mario Draghi and the European Central Bank will consider turning on the tap to some extent, in terms of the emergency liquidity."

[Reuters]