Tuesday September 2, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece to get 35 bln euros from EFSF?

Europes rescue fund may provide 35 billion euros ($46 billion) to help Greece buy back bonds held by euro-area central banks as collateral, draft legislation published by the Greek government shows.

The European Financial Stability Facility would lend Greece that amount to buy back sovereign bonds held by central banks as collateral in refinancing operations, according to documents posted on the Hellenic parliaments website. The European Central Bank would facilitate the purchases.

In July last year, then-ECB President Jean-Claude Trichet said that euro-area governments had agreed to guarantee as much as 35 billion euros of Greek debt for the purposes of ECB refinancing operations. That would be necessary if Greece is deemed to be in selective default after a bond swap with private-sector investors, because the ECB cannot accept bonds with a default rating.

The documents show the EFSF would also provide 30 billion euros in order to permit Greece to finance, in part, the Voluntary Liability Management Transaction, or private-sector bond swap. A further 5.7 billion euros would help cover interest payments on the bonds.

The EFSF could lend Greece an additional 23 billion euros in order to finance the recapitalization of certain financial institutions, according to one document.

[Bloomberg]

ekathimerini.com , Monday February 13, 2012 (02:30)  
Greece needs private debt overhaul, Piraeus Bank CEO says
Cheap energy pulls down eurozone producer prices in July
Greece sells 1.14 bln euros of 6-month T-bills, yield eases
New committee formed to assess progress of deregulation in closed-shop professions
Navys Prometheus brings doctors to remote Aegean islands
Naval support ship Prometheus will be touring the Dodecannese in the eastern Aegean from September 3-11 in order to provide residents of remote islands with primary healthcare, the Hellenic ...
Police seeks identity of woman injured in Thessaloniki hit-and-run
Police on Tuesday appealed to the public for help in identifying a woman who was hit by a motorcycle and left suffering serious injuries in Thessaloniki in August. The accident occurred on t...
Inside News
Grateful Saviola thanks Olympiakos, joins Verona
Former Argentina international Javier Saviola has thanked Greek champions Olympiakos for the "beautiful moments" during his season-long stint in Greece as he left the club to join Serie A ou...
SOCCER
Greece defender Papadopoulos fires parting shot at Michel
International defender Avraam Papadopoulos suddenly quit Olympiakos on Monday to join Turkish club Trabzonspor, and fired a parting shot at Olympiakos manager Michel putting the blame on the...
Inside Sports
COMMENTARY
Politicized archaeology
Let us suppose that archaeologists discover that the tomb uncovered in Amphipolis was not the resting place of Roxana or Nearchos, but of Alexander the Great. Let us assume, that is, that ar...
EDITORIAL
Moderating expectations
Politics is, to a great extent, all about managing expectations, and anyone who raises that bar too high or too fast is at serious risk of disappointing and losing the peoples favor. In a c...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Navys Prometheus brings doctors to remote Aegean islands
2. Grateful Saviola thanks Olympiakos, joins Verona
3. Police seeks identity of woman injured in Thessaloniki hit-and-run
4. Armed robbers hold up post office in Thessaloniki
5. Greece needs private debt overhaul, Piraeus Bank CEO says
6. Cheap energy pulls down eurozone producer prices in July
more news
Today
This Week
1. Politicized archaeology
2. Rain and storms with hail expected in many parts of Greece
3. New committee formed to assess progress of deregulation in closed-shop professions
4. Moderating expectations
5. Reforms to dominate Greek talks in Paris, debt relief talks later, says source
6. Trial over 2013 murder of pawn merchant starts in Athens
Today
This Week
1. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
2. The battle against progress
3. Attack on gay couple in Athens leaves one man needing surgery
4. Strong undersea quake occurs off island of Milos, felt in Athens
5. Greek quest for debt relief faces hurdles in Paris
6. Hardouvelis, ECB executive discuss bank program, stress tests
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.