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Greece begins paying EU and IMF as banks reopen
Greece repaid the European Central Bank today the bank said, clearing a key obligation worth about €4.2bn with one of its top lenders, after receiving temporary funding while it negotiates a bigger bailout deal. The €3.5bn bond and €700m interest payment to the ECB was crucial. Without it, the bank could have been forced to end emergency liquidity assistance to Greek banks if the government defaulted on its bond payment.It also comes after Greece repaid about €2bn to the International Monetary Fund, clearing all its arrears after missing several payments in June and July. Athens received a €7bn temporary or ... (full story)