According to these sources, the amount and distribution of the first installment of aid to Athens is one of the issues requiring findings by the finance ministers of euro zone countries, who have to approve on Friday a new three-year program support for Greece worth 85 billion euros.
According to unofficial information, the working group suggested the euro zone, that the first installment amounted to at least 23 billion euros. Athens would receive it until 20 August, which would enable the repayment of debts attributable to this day the European Central Bank in the amount. 3.5 billion.
The recapitalization of Greek banks would be allocated 10 billion. With the first installment would also be repaid the bridging loan taken out by Greece in July with a common EU European Financial Stabilisation Mechanism (EFSM) in height. More than 7 billion euros, and is yet another installment debts to the International Monetary Fund.
The ministers also explain when and how will be carried out recapitalization of Greek banks. Questions also concern the privatization. According to the findings of the July summit of the eurozone Greece has set up a special fund worth 50 billion euros, which will be forwarded revenues from privatization.
29-page draft agreement, negotiated in last Tuesday by Greece and the three institutions: the European Commission, International Monetary Fund and the European Central Bank, provides for the establishment of the fund, but does not contain many details. The document predicts that within three years, Greece will forward to the fund of 6.5 billion euros from privatization and the remainder in subsequent years.
Solutions requires the matter of the participation of the IMF in aid to Greece. For most euro area countries is a necessary condition for run support. However, the IMF stresses that the condition for his commitment to support for Athens is the restructuring of Greek debt. This in turn raises resistance in the euro area, which declares that a discussion will begin in October, after the first evaluation of the implementation of the new program for Greece.
IMF head Christine Lagarde on Friday held a teleconference with obradującymi in Brussels ministers of the euro area and – according to sources – expressed support for the agreement concerning the aid for Athens.
German Finance Minister Wolfgang Schaeuble said before the meeting that he wanted a clear commitment from the IMF to participate in the aid program for Greece.
Most of the ministers optimistic on Friday assessed the chances of a political agreement on support for Greece. If they take a decision, then run the program will still require the consent of the parliaments of some euro zone countries, including the German Bundestag.
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