The first tranche of 20 billion euros for Greece
Greece has received today the first tranche of 110 billion loan needed to overcome the debt crisis faced by the Greek State, according to BBC.
“The first tranche of financial assistance for Greece will be transferred today (Tuesday) … and the International Monetary Fund transfer money at the same time.
The 20 billion euros tranche , consists of 14.5 billion coming from the euro area countries and 5.5 billion euros from the IMF, “said EU Economic and Monetary Affairs Commissioner Olli Rehn in Brussels after meeting finance ministers from the euro area.
This aid would allow the authorities in Athens to honor the maturity date of May 19th crucial for their loans worth about nine billion euros, which the Greek government admitted in late April that they can not repay due to explosive growth of market interest.
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Posted by Marian Ciovirta on May 18 2010 Filed under Finance. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
