Debt crisis and no end – Greece needs further 90 billion
Baku, June 9 (AZERTAC). The highly indebted Greece needs in addition to the words of the Luxembourg Finance Minister Jean-Claude Juncker 90 billion euros in financial assistance. The planned privatization of Athens should be enough for a third of the currently needed funds and bring in 30 billion euro, Juncker said on Wednesday after a conference of finance ministers of the euro zone.
Wed Luxembourg Prime Minister Jean-Claude Juncker quantified the additional needs of Greece to grant on Wednesday to 90 billion euros.
He also called for a “revival” of the Greek efforts to resolve the debt crisis. “We recognize the Greek government on significant progress achieved so far,” said Juncker. Further efforts towards fiscal consolidation are needed, however.
Greece were awarded about a year international emergency loans to total around 110 billion €. Nevertheless, the country can wear his debts of more than 350 billion euros so far as not agreed. The EU is therefore currently developing a new aid package. A determination could the EU finance ministers on 20 June or the leaders at the upcoming EU summit on 23 and 24 June meeting.
It has also been estimated by the troika of the IMF, ECB and EU Commission takes Greece to new funding from outside in order to solve its debt problems. “Given the unlikelihood of a return to Greece for the financial markets in 2012, the adjustment program now under-funded,” it says in the results of joint tests of the troika that were available on Wednesday.
“The next payment (from the ongoing Greece-aid package) can not take place before the problem of under-funding is resolved,” it said.
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