FXstreet.com (Barcelona) - The International Monetary Fund, the European Commission and the ECB, all together conforming the ‘troika’, have suggested that the beleaguered country would need yet more time to fulfill its lenders’ requests. Neglecting of doing so, would force the Hellenic Republic to dig deeper into new measures, in order to obtain €20.7 billion to meet its financial needs for the next year and 2014
By the same token, the troika explained that extra time would necessarily imply to cover financial disruptions of €15 billion during 2014 and €17.6 billion for 2016 and 2017
The document signaled as positive the new coalition government led by A.Samaras, although remarked that “risks to the program remain very large”.
The report has already taken for granted the time extension for Greece, but the fund gap final figures would hinge on the final work of the European governments on the Greek rescue package. Among the alternatives for covering the gaps were an extension of the maturities on the country’s aid loans, buyback of debt, cutting interest rates and paying out loans on a faster schedule.
By the same token, the troika explained that extra time would necessarily imply to cover financial disruptions of €15 billion during 2014 and €17.6 billion for 2016 and 2017
The document signaled as positive the new coalition government led by A.Samaras, although remarked that “risks to the program remain very large”.
The report has already taken for granted the time extension for Greece, but the fund gap final figures would hinge on the final work of the European governments on the Greek rescue package. Among the alternatives for covering the gaps were an extension of the maturities on the country’s aid loans, buyback of debt, cutting interest rates and paying out loans on a faster schedule.
