The EU will extend by two months the aid plan for Greece – EasyBourse.com

The EU will extend by two months the aid plan for Greece – EasyBourse.com

Published December 8, 2014

Copyright © 2014 Reuters

EU to extend by two months the aid plan for Greece

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BRUSSELS (Reuters) – Finance ministers of the euro area have agreed to grant Greece a two-month extension of the bailout of the country, a request that will make Athens on Tuesday, said Monday the president of Eurogroup Jeroen Dijsselbloem.

According to a document that has been able to consult Reuters last week, Brussels had even considered to extend by six months the aid package, which expires at the end this year.

But Greece had then said he did not want an extension of more than a few weeks.

“We need an extension,” said Jeroen Dijsselbloem in out of a Eurogroup meeting in Brussels.

“There are no elements at this stage to conclude our discussion now or before the end of the year. The Eurogroup welcomed welcomes the request of Greece a technical extension of two months. “

This extension of the international aid program of 240 billion euros, in force since 2010, seemed inevitable.

And to the extent that the Troika (European Union, International Monetary Fund, European Central Bank) and the Greek government have not yet reached a compromise on the conditions that would allow Athens to receive the latest tranche of aid 1.8 billion euros, to have a precautionary credit line after stopping the program and return to the capital markets.

At the end of the program, countries the euro area support the allocation of a credit line in Athens, added Jeroen Dijsselbloem

By 155 votes against 134, the Greek parliament approved a project in the night 2015 budget presented without downstream of international donors, which demand new austerity measures.

Prime Minister Antonis Samaras seeks to end sooner than expected aid package from the International Monetary Fund (IMF) and European Union (EU) and ensure its maintenance business after the presidential election in February.

Pierre Moscovici, the European Commissioner for Economic Affairs, said for his part that international inspectors would be back to Athens on Tuesday to complete their review of the country’s financial situation.

It may be granted more time to Greece before the final tranche of international aid is disbursed, has said his side the German Finance Minister Wolfgang Schäuble.

(Ingrid Melander and Jan Strupczewski, Veronique Tison for the French service, edited by Benoit Van Overstraeten)

Reuters