Greece near bailout deal

The Pak Banker - - Front Page -


Greece will take an­other big step to­ward un­freez­ing in­ter­na­tional bailout funds if par­lia­ment ap­proves the na­tion’s 2013 bud­get Sun­day, but dis­agree­ment among its cred­i­tors may push back when that aid will re­sume.

“It re­ally rep­re­sents progress,” ECB pres­i­dent Mario Draghi said last Thurs­day, adding that the ECB and eu­ro­zone fi­nance min­is­ters would dis­cuss the Greek sit­u­a­tion at a meet­ing in Brussels. As­sum­ing Sun­day’s vote goes in fa­vor of Prime Min­is­ter An­to­nis Sa­ma­ras’ coali­tion gov­ern­ment, Greece would get two more years to meet bud­get tar­gets set out in the orig­i­nal pro­gram in March, and gain ac­cess to €31.5 bil­lion that Greece needs to sta­bi­lize its banks and re­deem short- term debt due next week.

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