Greece needs 55 bln euro in official funds -EU aide |
| Reuters - Jun 23, 2011 |
Greece will need an additional 55 billion euros in official funding until 2014 under a second bailout package under discussion among international lenders, a senior EU source close to the negotiations said on Thursday.
That is slightly less than the figures cited by European officials in recent weeks.
The three-year programme would involve 115 billion euros in new funding beyond the 57 billion euros still to be paid out under last year's first rescue plan, he said.
Further funding is contingent on the Greek parliament adopting a more drastic five-year austerity programme next week to win the release of 12 billion euros in EU/IMF aid and avert potential bankruptcy in mid-July.
Of the new total, Greece is committed to raising 30 billion euros in privatisation revenues, and private sector banks and insurers are expected to provide about 30 billion euros through a voluntary bond rollover.
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- Posted: 2011-06-23 12:30:24
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