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    Finland's Finance Minister Alexander Stubb speaks with the media after a meeting of eurogroup finance ministers at the EU LEX building in Brussels on Wednesday, June 24, 2015

    Greece to Send New Request for European Lending Program

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    Greece will send a new formal request for the European Stability Mechanism lending program in the coming hours, Finnish Finance Minister Alexander Stubb said Tuesday.

    BRUSSELS (Sputnik) – Earlier in the day, European finance ministers met in Brussels to discuss the Greek debt crisis and ways to resolve it. The Eurozone emergency summit on the Greek issue also began in Brussels.

    "We expect a request for an ESM program imminent within a few hours," Stubb told journalists after a Eurogroup meeting.

    The emergency meetings were prompted by the result of the Sunday's Greek bailout referendum, in which over 61 percent of Greek voters rejected the creditors' proposals on additional loans to Greece in exchange for deeply unpopular social and financial austerity measures.

    Initially, the country’s government rejected the offer and announced the referendum. The move dissatisfied the Greece's international lenders, and bailout negotiations broke off.

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    Greece's Gordian Knot: Syriza Tackles Austerity (404)

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    bailout program, debt crisis, Eurogroup, Eurozone, Alexander Stubb, Finland, Greece
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