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Image header Agence Europe
Europe Daily Bulletin No. 10119
Contents Publication in full By article 11 / 27
GENERAL NEWS / (eu) eu/economy

Greece wants to discuss aid mechansim not activate it

Brussels, 15/04/2010 (Agence Europe) - Together with the European Commission, the European Central Bank and International Monetary Fund, Greece would like to clarify the aid mechanism devised to help the country but it is not seeking to activate it. In a letter sent to these institutions on 15 April, Greek Minister of Finance George Papaconstantinou said that the Greek authorities are requesting discussions on “a multi-year programme of economic policies building on the Ecofin conclusions of February that could be supported with financial assistance from the euro-area member states and the IMF, if the Greek authorities were to decide to request such assistance”. This approach is considered by certain people to constitute an official request for activation but it could also be used as a way of bringing down market interest rates. The Greek request is in compliance with the declaration made on 11 April by eurozone member states. In a press release, Commissioner Olli Rehn immediately replied to the Greek request and indicated that a Commission mission would travel to Athens next Monday to continue discussions with the country's authorities. (A.B./transl.fl)

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