| Author (Person) | Pop, Valentina |
|---|---|
| Series Title | EUObserver |
| Series Details | 26.11.12 |
| Publication Date | 26/11/2012 |
| Content Type | News |
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EUObserver, EurActiv and other news sources reported that Eurozone finance ministers and the International Monetary Fund (IMF) sought to unfreeze the second bailout package for Greece on the 26 November 2012, but they first needed to agree whether some of the official loans to Athens might eventually be forgiven to cut Greek debt. The FT and other news sources reported on the 27 November 2012 that after two false starts in as many weeks, international lenders in the early hours of the 27 November reached a deal to overhaul Greece’s faltering bailout programme and release a long-delayed €34.4bn aid payment by agreeing to a series of measures that could relieve Greece of billions of euros in debt by the end of the decade. However the FT also said 'Somewhere in the not-too-distant future, according to senior officials and bailout documents ... international lenders will once again have to find more water from the Greek debt stone. Many, including at the IMF, now believe the only way to do that is through a write-down of official bailout loans, known in euro-speak as “OSI” for official sector involvement. |
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| Source Link | http://euobserver.com/economic/118315 |
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| Countries / Regions | Europe, Greece |
