Share

Greece: the troika returns on Friday, Papademos is optimistic

At the end of the week, the representatives of the EU, the ECB and the IMF will land in the Greek country to decide on the second 130 million aid plan - Meanwhile, the Premier has no doubts about the possibility of reaching an agreement with private creditors and categorically excludes exit from the 'EUR.

Greece: the troika returns on Friday, Papademos is optimistic

Friday it might open a new chapter for Greece. For that date representatives of the troika are expected in Athens (EU, ECB and IMF) who will have to study the details of the second aid plan (130 million euros) to be allocated to the Greek country. The Greek Prime Minister Lucas Papademos said he was confident, adding that “the Government's negotiations with private creditors on the restructuring of the national debt will resume soon. I have no doubts that an agreement acceptable to both parties will be reached."

The negotiations between the Executive and the Banks were interrupted last Friday due to a difference on the coupon to be paid to the holders of the new Greek government bonds. If the negotiations fail permanently, the country will need a much larger bailout fund to avoid default. 

In any case, leaving the euro area to return to the drachma "is not an option that is being considered", Papademos said again.

comments