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Bailout
: Calculated RiskEurope Offers Greece ?30 Billion Loan
By Anonymous
Leaders of the 16 eurozone nations have agreed to fund up to 30bn euros in emergency loans for debt-hit Greece, if the country wants the cash.The price of the loans will be fixed using IMF formulas, and be about 5%.
Luxembourg Prime Minister Jean-Claude Juncker, speaking for eurozone finance ministers, said there were no elements of subsidy in the loan proposal.
"The total amount put up by the eurozone member states for the first year will reach 30bn euros," he said.
...
Mr Juncker added that the financing would be "completed and co-financed" by the International Monetary Fund.
Full post as published by Calculated Risk on April 11, 2010 (boomark / email).
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