Vladimír Urbánek (Kurzy.cz)
Markets  |  November 12, 2012 17:12:16

Troika: More time for Greece = 15 billion + other extra costs


According to agency reports Troika (EC, ECB and IMF), the European Commission presented a more than 100-page report evaluating the development of the situation in Greece. Key document for the meeting today beginning EUROFIN contains, among other comments on the possible postponement of the fulfillment of requested austerity measures for Greece. If the deadline moves to the required two years to bring the budget hole of about 15 mld.EUR the end of 2014 and about 17.6 mld.EUR in the next few years. Troika report does not contain any options or suggestions on how to solve the resulting hole and also contain any comments or suggestions about solving the debt sustainability of Greece and restore growth of its economy.

The report implies or suggests that Greece receives two extra years (until 2016) to meet the desired objectives.
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