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THE FINANCE MINISTERS of the 17 euro countries say they have agreed in principle to give Greece the first batch of bailout money to finance a massive debt relief deal with private investors.
However, they said today that a final sign off for the as much as €93.5 billion Greece needs to implement the debt swap will come next week, once Athens has passed “a few pending implementing acts” for promised austerity measures.
The ministers also want to see how many banks and investment funds will actually participate in the bond swap.
A successful implementation of the €107 billion debt relief deal is a precondition for Greece to receive the rest of the €130 billion bailout.
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I wish they’d hurry up. 81% of this bailout is going straight back to European banks. The bankers need this money.
Does nobody care about the bondholders??? :P
I will pay my €100 home tax tomorrow, god help the bond holders, they must be starving!!;P
Greece should put it up to the Euro zone and say sorry the best thing for us is to default and exit the Euro. Short term austerity verses long term austerity no choice. Not going to happen as the unelected PM of Greece is in the Euro pocket. Feel sorry for them to be honest they will be beaten into the ground for a long time. Any Greeks reading this look to what Iceland did and where Iceland is now.
have your say