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According to a statement released by the European Commission (EC) immediately after the meeting, the new billion-dollar loans will be made available over the next three years to Greece by the ESM.

Prime Minister Alexis Tsipras resigned yesterday, hoping to strengthen his hold on power in snap elections after seven months in office in which he fought Greece’s creditors for a better bailout deal but had to cave in.

Greece’s other political parties want to get rid of Mr. Tsipras and Syriza.

“If we don’t find a solution, we will have to do bridge financing”, he said, referring to a short-term loan so Greece can make its next debt payment on August 20.

In Berlin, the government said it expected Athens to press ahead with its reform agenda and the finance ministry said aid disbursements would be delayed should the elections cause any delay in an examination of the programme.

His U-turn in accepting the demands by the country’s creditors led to outrage among hardliners in his Syriza party, with dozens voting against him during the bailout’s ratification in parliament last week.

The approval comes after six hours of talks to nail down the tough and far-reaching reforms Athens must implement in return. Unable to borrow on the worldwide markets, another bailout is all that stands between Greece and a disorderly default on its debts – as soon as next...

“Of course there were differences, but we have managed to solve the last issues”, Eurogroup Chairman Jeroen Dijsselbloem told reporters in Brussels.

Greece’s partners in the euro currency are debating whether to give that country billions of dollars in new loans, now that the Greek parliament has passed a package of painful reforms and spending cuts.

Eurogroup chairman Jeroen Djisselbloem said that there were “differences” among foreign ministers of Eurozone, but they “managed to solve the last issues”.

German lawmakers voted in favor of a third Greek bailout on Wednesday despite a record rebellion among Chancellor Angela Merkel’s own conservatives that suggested she would struggle to return to parliament to seek any further aid for Athens.

The plan still needs approval from eurozone parliaments. But it is risky for Greek PM Alexis Tsipras.

The final vote was 454-113, with 18 politicians choosing to abstain, following concern that Chancellor Angela Merkel could face dissent from conservatives in her ruling bloc.

If the bailout is not approved by the Eurogroup, it could decide to grant Greece 6.04 billion euros in bridge financing, according to German newspaper Bild, citing a European Commission proposal for the meeting.

While it is likely that the Bundestag will pass the measures in line with the eurozone and the German cabinet, several lawmakers from Chancellor Angela Merkel’s Christian Democratic Union (CDU) are expected to break ranks and vote against Greece’s third bailout.