Mediafax (Mediafax)
Markets  |  June 03, 2011 11:00:26

Greece gets a new three-year rescue loan, writes the local press


Mediafax

ATHENS (MEDIAFAX) - The Greek press is expected that on Friday three, ie the European Commission (EC), European Central Bank (ECB) and International Monetary Fund (IMF) published a new three-year plan for the indebted Greece. Reported on the Reuters and AFP.

"Three would be made public on Friday communique concluding the negotiations with Greece on a new program of austerity and maybe even a new rescue package," Ta Nea wrote a letter. According to the daily decisions on additional assistance, "died Wednesday in Vienna at a meeting of experts from the euro area".

According to the information sheet Naftemporiki new agreement "includes a loan worth 60 billion euros (1.47 billion CZK), which should cover the financial needs of the country in 2014, in exchange for austerity measures worth 6.4billion (157 billion CZK) this year. " Athens by 2015 should save another 22 billion euros (539.7 billion CZK).

According to the data sheet Kathimerini but the new funding would not only come in the form of credit. The European Union (EU) and the IMF should provide approximately 30 to 40 billion euros (736 to 981 billion CZK), thanks to the privatization program, Athens had to get another 25 billion euros (613.3 billion CZK). Additional approximately 20 billion (490 billion CZK), then Greece will receive due to voluntary debt re-profiling. Kathimerini newspaper said, it is expected that some private investors are exchanged for new Greek bonds, with maturities of 10 or 15 years

Greek Prime Minister George Papandreou on Friday will meet with the chairman of eurozone finance ministers (Eurogroup) Jean-Claude Juncker, to talk about saving the medium of Greece.

New rescue package should give the green light of eurozone finance ministers at their meeting on the 20th June, then fine-tune details of the European Council 24 June.

Simone Radacicova, radacicova@mediafax.cz

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