Greece cannot expect bailout money before August, officials say

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Greece’s prime minister said the country’s banks might stay closed for another month as both he and his German nemesis admitted they had no faith in a bailout agreement they reached just on Sunday

The bailout agreement is due for a vote in the Greek parliament on Wednesday, which gives the leaders’ frustrated comments more historical weight. If the Greek parliament approves the vote, Greece will get its third bailout and will be able to pay off its debts and get its economy moving again

Even if the bailout agreement passes, it will take about four weeks for Greece to get access to its new bailout program, which was agreed upon in a preliminary deal on Monday. Read more…

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