Greek bail-out to rise to €195bn: Newswires are reporting that EU Officials have announced that Greece could receive a new bail-out worth an extra €85bn. Taking last year’s agreement into account, total aid for Greece could total a huge €195bn….
Azad Zangana, European Economist di Schroders
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Comment: It seems EU officials are making good progress to having a new agreement in place by the start of next week. This should pave the way for the Troika (IMF/EU/ECB) to release the next €12bn tranche of funding to Greece and ensure that an accidental default will not occur in the coming months.
The top up of €85bn to €195bn should be enough to cover Greek funding needs until 2014 if Greece is able to make good progress on its privatisation programme and cutting its public deficit.
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Source: IFAWorld – Schroders