European Union

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Donald TUSK, President of the European Council, visits Armenia on 20 July 2015 to follow-up on the results of the Eastern Partnership summit held in Riga on 21-22 May 2015.

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General : We all love to travel, but do you know what to do if things go wrong? When there is an emergency, your flight gets cancelled or you lose your passport? There are EU rules in place to make travellers' lives easier. Here are a few key points to remember.

Source : © European Union, 2015 - EP

General : We all love to travel, but do you know what to do if things go wrong? When there is an emergency, your flight gets cancelled or you lose your passport? There are EU rules in place to make travellers' lives easier. Here are a few key points to remember.

Source : © European Union, 2015 - EP

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EU Ministers of Foreign and European Affairs meet in Brussels on 20 July 2015 to discuss the latest events in Tunisia, and to try and revive the Middle East peace process.

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ESM chief Klaus Regling, right, with German finance minister Wolfgang Schäuble

Now that eurozone finance ministers have approved reopening bailout talks with Greece, the long slog to negotiating a €86bn deal begins. And one of the remaining unanswered questions is just how Greece’s bailout creditors plan to pay for it.

Klaus Regling, who heads the eurozone’s €500bn rescue fund, told German television this week that his European Stability Mechanism was preparing a loan of “perhaps €50bn” for Greece’s third bailout. That would leave as much as €36bn to scrape together from other sources.

The second largest source of bailout funding throughout the Greek crisis has always been the International Monetary Fund, which is still in the middle of a five-year €28bn rescue. That IMF programme has distributed €11.6bn so far, leaving €16.4bn that the new bailout could tap.

But the recent update of the IMF’s debt sustainability analysis, published by the Fund on Tuesday, makes clear that they are in no mood to disburse any of those funds unless there is a full-scale debt restructuring – which Germany and other eurozone creditor countries have fiercely resisted.

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