Originally posted by the Voice of America.
Voice of America content is produced by the Voice of America,
a United States federal government-sponsored entity, and is in
the public domain.


                        Greek Cabinet Reshuffle Expected

   by VOA News

   Greek Prime Minister Alexis Tsipras is expected to reshuffle his
   Cabinet in the next few days, now that Greece has won an increase on
   the cap for its emergency funding from the European Central Bank.

   The reprieve from European creditors followed a vote by Greek lawmakers
   Thursday approving tough new austerity measures that included tax
   increases and cuts to pensions.

   The vote sparked a revolt by some members of Tsipras' own party, as
   well as protests on the street by Greek citizens who say the nation is
   already overburdened by cost-cutting measures.

   Banks to re-open

   Athens said the new European funding will permit the re-opening of
   banks that have been closed since late June. Bank customers have been
   limited to withdrawals of only $67 (60 euros) per day from streetside
   cash machines.

   The government has said that as banks reopen, the withdrawal limits
   will likely be relaxed to a weekly limit it has not yet announced.

   German Chancellor Angela Merkel spoke Friday to the lower house of the
   German parliament in an attempt to convince lawmakers to support talks
   for a new Greek bailout deal.

   Germany - Europe's wealthiest nation - is one of Greece's largest
   creditors, and its lawmakers are expected to approve new talks for
   Athens.

   Eurozone finance chiefs agreed Thursday to hand Athens a short-term
   loan to meet its immediate debts and also open talks on a new
   three-year, $94 billion bailout, which would be the country's third in
   five years.

   The finance ministers in Europe's 19-nation euro currency bloc took the
   actions just hours after Greek lawmakers earlier in the day approved
   the tough austerity reforms demanded by Athens' creditors.

   Short-term loan

   European Commission President Jean-Claude Juncker said the European
   Union will hand Greece the short-term loan that will allow it to make a
   $4.6 billion loan payment it owes the European Central Central Bank on
   Monday.

   Juncker did not disclose the size of the loan.

   Central Bank President Mario Draghi told a news conference in Frankfurt
   that it is "uncontroversial" that Greece needs relief from its massive
   debt of several hundred billion dollars.

   But Germany is opposed to an outright cut in the Greek debt, while
   opening the door to easing its loan repayment terms.

   ''
     __________________________________________________________________

   [1]http://www.voanews.com/content/greek-cabinet-reshuffle-expected/2866
   164.html

References

   1. http://www.voanews.com/content/greek-cabinet-reshuffle-expected/2866164.html