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Archive for August, 2012

EUROZONE: ECB Athens refund in time

Monday, August 20th, 2012


Greece will meet Monday "no problem" with the European Central Bank (ECB) a debt of 3.2 billion euros arrival arrow , ance, dispelling the immediate risk of a default, it was announced that the Ministry of Finance.

"The issue is resolved, there is no problem, Greece will meet in the day" this debt, "we have the money" , told AFP a source at the Ministry, which did not specify what time redemption would intervene. 

Private funds pending recovery loans to which the EU and the IMF have agreed to save it from bankruptcy, Greece had raised the exceptional sum last week of 4.063 billion euros in treasury bills three months to cover its current needs and avoid default.

This issue, for which she had to accept an interest rate of 4.43% - allowed him to circumvent the pitfalls of maturing on 20 August sovereign bonds held by the ECB.

The European Central Bank, which Greece had initially hoped for a technical solution to extend the deadline, had agreed to the request of Athens for the exercise of such a sum. 

To resume infusion with payment expected from a tranche of loans of 31.5 billion euros, donors demanded that Greece back on its track recovery program that If they require two years.

A European decision is expected in September, while Athens also calls for a two-year reprieve referring to 2014-2016 fiscal consolidation, in order to extract the interval recession that has mired austerity.