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Athens News Agency: News in English, 11-12-08

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Eurogroup approves 6th tranche of bailout loan

  • [01] Eurogroup approves 6th tranche of bailout loan

    Brussels (AMNA) -- The Eurogroup approved disbursement of an 8 billion euros 6th tranche of the 110 billion euro EU-IMF bailout loan to Greece, Eurogroup president Jean-Claude Juncker announced in Brussels after a meeting of the group on Wednesday, adding that the disbursement will most likely be in mid-December.

    "We decided to release the sixth disbursement of the Greek programme now that prior actions have been met," Juncker told reporters after a meeting of the finance ministers of the 17 eurozone member countries.amna

    Juncker said that the letters received by the eurogroup from the leaders of the three political parties backing the new national unity government in Greece and also from transitional prime minister Lucas Papademos fully satisfied the eurogroup demand for written commitments on the implementation of the Memorandum and the decisions of the October 26-27 eurozone summit.

    The eurogroup chief also said that he will personally send a letter to Papademos stating his satisfaction with the Greek government's commitment to materialise the October 26 decisions.

    He also said that the disbursement will take place approximately in mid-December after the International Monetary Fund (IMF) approves its part of the tranche.

    Juncker further appealed to the Greek authorities to speed up talks with Greece's private creditors on the Greek bond swaps, the so-called PSI, with the aim of completion of the process by the end of January.

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