EU agrees in principle on new Greek plan-source

Reuters
June 2, 2011

Senior euro zone officials have agreed in principle on a new three-year adjustment programme for Greece to run until mid-2014 and involve increased external funding, a source close to the negotiations said on Thursday.

The Economic and Financial Committee (EFC) of deputy ministers and senior officials of the 17-nation currency zone approved the Greek programme in principle in talks in Vienna that ended after midnight, the source said.

The second programme for Greece, which will effectively supersede the 110 billion euro ($160 billion) bailout agreed in May 2010, will involve some participation of private sector investors but limited to avoid triggering a credit event, the source said.

Details of that involvement, and the apportionment of the additional official international funding, remain to be worked out in time for a June 20 meeting of euro zone finance ministers, the source said.

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Ρεπορτάζ στο Βήμα, την Καθημερινή και τα Νέα