Eurogroup: Rescue Program of prolonged Greece for more … – Business Journal – Portugal

Eurogroup: Rescue Program of prolonged Greece for more … – Business Journal – Portugal

The current bailout program for Greece will be extended by two months, according to the decision made at the Eurogroup meeting in Brussels, the Member States that were again available to grant that country a line of precautionary credit .

The finance ministers of the euro area met this afternoon on Monday, the second session of the Eurogroup, a meeting in which the attention was focused on Greece and the problems surrounding the conclusion of the second bailout program for Athens.

In a statement after the meeting, the Eurogroup said the progress made by Greece but said it is not the ‘troika’ (European Commission, European Central Bank and International Monetary Fund) completing the fifth review before the end of this year, so “will have to continue in early 2015″.

So, he said the president of the Eurogroup, the Dutchman Jeroen Dijsselbloem , Member States are in favor of accepting a request from Greece for a technical extension of two months of the current buyback program.

The ‘troika’ and the Greek authorities have had many disagreements that have prevented the disbursement the last tranche of 1,800 million euros.

Greece is under financial assistance since 2010, with two loans granted in exchange for harsh austerity measures.

At the end of this year, wins European part of the bailout of € 240 billion (the IMF should continue until the spring of 2016) and the Government has denied a new program, despite the fears of European partners that the country is unable to finance itself.

The Greek parliament approved early on Monday the state budget for 2015, but lenders consider that there is a ‘hole’ between two and three billion euros in additional revenue for next year Greece reaches the economic forecasts. However, Athens rejects new austerity measures.

As soon as the current program, the euro area has proved favorable to give Greece a precautionary credit line, which was reaffirmed today in a statement today. This line would have strengthened conditions but with lighter counterparts that the current buyback program.