Wall Street Journal
June 9, 2011
Eurogroup President Jean-Claude Juncker said Thursday the amount of a new aid plan for Greece hasn't yet been established, a day after German Finance Minister Wolfgang Schäuble put the cost of saving the debt-laden euro member at €90 billion ($131.14 billion).
"It's too early a moment to announce definite figures," Mr. Juncker told a press conference in Luxembourg.
Mr. Schäuble, in a letter to euro-zone finance ministers, the International Monetary Fund, and the European Commission on Tuesday called for a substantial new aid program for Greece. Such a program would involve the participation of private holders of Greek bonds via a bond swap that would lead to an extension of outstanding Greek sovereign bonds by seven years, Mr. Schäuble suggested.
On Wednesday, he told lawmakers of the governing Free Democratic Party, or FDP, that Greece's financing needs stand at €90 billion from 2012 to 2014, according to participants at the meeting.
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