Greece has not asked for activation of EU-IMF aid mechanism: minister

08:50, April 12, 2010      

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Greece has not asked for the activation of the EU-IMF support mechanism, Greek Finance Minister George Papaconstantinou said on Sunday afternoon after the special Eurogroup teleconference held earlier in the day which clarified the terms of a possible financial aid to Greece.

Member states of Eurozone will grant Greece through the European Central Bank up to 30 billion euros (40. 15 billion U.S. dollars) with an interest rate around 5 percent for three years, while IMF (International Monetary Fund) will release further 13 to 15 billion euros (17.4 to 20. 08 billion dollars) with a lower interest rate, if the Greek government makes such a request, as it was announced from Brussels.

Papaconstantinou expressed the satisfaction of Athens for the results of the teleconference, noting that the mechanism has now a more clear form.

The decision made Sunday is very important, he said, stressing that it shows the confidence of other EU member-states towards Greece and the efforts the country makes.

The Greek Finance Minister repeated though that Greece has still not asked for the activation of the mechanism and aims at continuing borrowing from the markets.

On Monday a new discussion of EU-IMF officials will be held to detail the final terms of the deal.

Source: Xinhua


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