1 Updates
Greece could receive additional aid: Minister
Photo Credit: STR, Getty Images

Greece could receive additional aid: Minister

Aug 25 2013, 3:52pm CDT | by IANS

Athens, Aug 26 (IANS) Greece could receive additional financial aid from the European Union and the International Monetary Fund without fresh bailout conditions, according to Greek Finance Minister Yannis Stournaras.

Athens, Aug 26 — Greece could receive additional financial aid from the European Union and the International Monetary Fund without fresh bailout conditions, according to Greek Finance Minister Yannis...

Filed under: news

Full Story below YouTube Videos

 
 

 

34 weeks ago

Greece could receive additional aid: Minister

Aug 25 2013, 3:52pm CDT | by IANS

Athens, Aug 26 (IANS) Greece could receive additional financial aid from the European Union and the International Monetary Fund without fresh bailout conditions, according to Greek Finance Minister Yannis Stournaras.

Athens, Aug 26 — Greece could receive additional financial aid from the European Union and the International Monetary Fund without fresh bailout conditions, according to Greek Finance Minister Yannis Stournaras.

"If Greece needs further support that will be no more than 10 billion euros ($13.4 billion). It will be a support package without new conditions, since targets have been set until 2016, as well as our commitments," Stournaras said in an interview with Greek Sunday newspaper Proto Thema, Xinhua reported.

Acknowledging that due to a possible funding gap Greece is still in no position to return to international markets in the near future, he also ruled out the prospect of a new debt restructuring.

"There is not a possibility," he said, referring to last year's Euro group decision that paved the way to an extension of the debt repayment period for Greece and a reduction of interest rates for the rescue loans granted to the debt-laden country since it was shut out of markets in 2010 under certain conditions.

The top one is the achievement of primary plus. Stournaras reiterated confidence that the goal will be achieved in 2014, the same year the current second bailout programme expires.

Since 2010, Greece is kept afloat with a total 240 billion euro financing under two bailout programmes in return for a tough austerity and reform plan which has been hit by delays.

Despite the crucial international aid to avoid default and a supplementary write-down of its debt load by some 100 billion euros last year, at the end of the first half of 2013 Greece still had a 321 billion euro debt, according to the latest official data, which is considered unsustainable by some analysts.

So far in 2013, despite three-year austerity and the reform drive, the debt increased by 16 billion euros from 305 billion euros at the end of 2012.

As a result, talks over a third bailout or a second haircut have resurfaced recently. And while there are increasing statements of European officials implying that additional support could be given to Athens, leaders such as German Chancellor Angela Merkel have warned that a new haircut would harm euro zone's stability.

IANS

Source: IANS

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Netflix joining lineup of 3 US cable-TV services
SAN FRANCISCO (AP) — Netflix's Internet video service is about to join the programming lineup of three small cable-TV providers in the U.S., a breakthrough that acknowledges the growing popularity of online...
 
 
Google, Apple settle high-tech workers' lawsuit
SAN FRANCISCO (AP) — Google, Apple, Intel and Adobe Systems have settled a class-action lawsuit alleging they conspired to prevent their engineers and other highly sought technology workers from getting better job...
 
 
Oregon moves to dump health exchange website
PORTLAND, Ore. (AP) — Oregon, once expected to be a national leader in the federal health care overhaul, on Thursday moved to become the first state to dump its troubled online health exchange and use the federal...
 
 
Cloud strength helps Microsoft earnings top Street
LOS ANGELES (AP) — In Satya Nadella's first quarterly earnings release as chief executive, Microsoft Corp. on Thursday posted earnings and revenue that beat Wall Street expectations, offering new justification for the...
 
 
 

Latest from the Network

Texas Rangers Hire Darren Oliver as Special Assistant to GM
The Texas Rangers added former pitcher Darren Oliver as a special assistant to general manager Jon Daniels on April 24.According to MLB.com's T.R. Sullivan, Oliver is the latest addition to a distinguished lineup of...
Read more on Sport Balla
 
Ciara wears fiancé's clothes during pregnancy
Ciara has been wearing her fiancé's clothes throughout her pregnancy. The 'Goodies' singer is due to give birth to her first child any when now, and she admits her beau Future's wardrobe has been her savior over the...
Read more on Celebrity Balla
 
Google, Apple settle high-tech workers' lawsuit
SAN FRANCISCO (AP) — Google, Apple, Intel and Adobe Systems have settled a class-action lawsuit alleging they conspired to prevent their engineers and other highly sought technology workers from getting better job...
Read more on Business Balla
 
Microsoft Results Beat Estimates, Cheer Investors
The bad news for Microsoft in its fiscal-third quarter was that sales and earnings were both off from a year ago. But the company beat Wall Street estimates and showed surprising strength in its Windows business. Shares...
Read more on Apple Balla
 
Google, Apple settle high-tech workers' lawsuit
SAN FRANCISCO (AP) — Google, Apple, Intel and Adobe Systems have settled a class-action lawsuit alleging they conspired to prevent their engineers and other highly sought technology workers from getting better job...
Read more on Apple Balla
 
Oregon moves to dump health exchange website
PORTLAND, Ore. (AP) — Oregon, once expected to be a national leader in the federal health care overhaul, on Thursday moved to become the first state to dump its troubled online health exchange and use the federal...
Read more on Business Balla
 
Cloud strength helps Microsoft earnings top Street
LOS ANGELES (AP) — In Satya Nadella's first quarterly earnings release as chief executive, Microsoft Corp. on Thursday posted earnings and revenue that beat Wall Street expectations, offering new justification for the...
Read more on Business Balla
 
Aaron Carter wants to 'sweep' Hilary Duff off feet
Aaron Carter wants to "sweep" Hilary Duff "off her feet". The former pop star dated the 26-year-old singer-and-actress for 18 months when they were teenagers, but he now wants the chance to rekindle their romance....
Read more on Celebrity Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla