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Euro zone officials say Ministers, IMF reach agreement on Greek debt relief

Reuters reporting:

  • Euro zone ministers, IMF reach agreement on Greek debt relief, reforms - euro zone officials

Just that headline for the time being - I expect a presser soon with all the pie-in-the-sky- kick-the-can fairytale news soon

More now:

  • Euro zone deal with Greece covers all issues, including need to support Greece, including debt - French fin min Sapin
  • Deal struck with Greece -Sapin
  • Greek debt deal with euro zone agreed in precise manner in short-, medium- and long-term -Sapin
  • IMF is part of euro zone deal with Greece - Sapin

More:

  • Dombrovskis - Euro area approves 10.3bn EUR payout to Greece (Valdis Dombrovskis of the EU)

And more:

  • Euro zone, IMF debt deal for Greece in short term envisages smoothening of EFSF loan repayments
  • Debt del for Greece in short term also envisages reducing interest rate risk

Eurogroup President Jeroen Dijsselbloem:

  • There is full agreement of lenders on package of Greek reforms
  • Says Euro zone bailout fund will provide 10.3bn EUR to Greece in several disbursements
  • Greek programme is fully back on track
  • Says Euro zone ministers, IMF agreed on debt measures for short-, medium- if needed and additional steps for the long-term
  • In the short-term the measures are to do with debt management
  • In medium term Greek debt measures are scheduled for mid-2018 upon implementation of all bailout reforms
  • Says Greece is to get back profits made by ECB on Greek bond purchases under the SMP programme
  • Some of Greek loans will be repaid early from unused ESM money for bank recap
  • Says EFSF loans to Greece to be reprofiled

  • Says additional debt measures can be provided in the long term to keep Greek gross financing needs below 15 pct of GDP
  • IMF is on board for Greek deal
  • IMF to recommend participation in Greek bailout by end of year
  • Says the scope of debt relief in 2018 will be decided on the basis of a revised debt analysis
  • Confidence between IMF and Euro zone and Greece has started to recoved

ps. Link to the presser

Meanwhile, EUR/USD doing near nothing

Added - the Eurogroup statment

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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