Tuesday, March 16, 2010

Greece: Greece’s agony extended to March 25

FOCUS Information Agency - The eurozone finance ministers have referred the solution to Greece’s aid mechanism to the EU heads of state and government, the Greek Ta Nea daily writes.

Greece’s agony will be extended to March 25 when a political decision should be made at the EU summit in Brussels, although it has turned out there is a concrete aid plan based on loans extended by eurozone countries.

Monday’s statements of Euro Group President Jean-Claude Juncker and European Commissioner for Economic and Financial Affairs Olli Rehn make two things evident: first, the aid, if allocated, will be under strict conditions and, second, Greece will have to ask for it officially.

According to Monday’s media reports a series of bilateral agreements could be inked, binding the aid with the enforcement of Greece’s stability and development program and, possibly, new measures.

Published by i On Global Trends - Mike Hitchen Online - news, opinion, analysis
See also Sydney Irresistible and for personal comment, Mike Hitchen Unleashed
Putting principles before profits