Agreement on Greece in Eurogroup: 10-year debt extension & 15 billion Euro installment

22 June 2018
626 Views

This way the third Greek economic program (a.k.a. memorandum) is being completed.

However, the post-memorandum era includes tough supervision.

The agreement includes a ten-year extension of the EFSF loans, coupled with an extension of the grace period for the payment of interest rates also for ten years. The installment that Greece will receive will be 15 billion euros. Of this amount, 3.3 billion will be used to buy previous loans, such as those of the IMF.

Senteno: The Greek debt is sustainable

Eurogroup President Mario Senteno opened the press conference, saying it was a long Eurogroup and that after eight years, Greece would exit this time from the supervision and join the states that have completed the support programs.

The Portuguese president noted that the institutions have confirmed that Greece has completed all 88 prerequisites of the fourth evaluation program and has therefore completed ESM’s third program. “That was it, we have a smooth landing on a very difficult project and there will be no next program,” he said.

Mario Senteno noted that Greece instituted more than 450 legislative actions, which were often very difficult for the Greek people. The importance of Greece was such that after three complete ESM programs, he can not remember a Eurogroup where Greece was not discussed.

You may be interested

Mitsotakis-Erdogan phone call after the 6.7 Richter earthquake
POLITICS
shares37 views
POLITICS
shares37 views

Mitsotakis-Erdogan phone call after the 6.7 Richter earthquake

makis - Oct 30, 2020

Greek Prime Minister Kyriakos Mitsotakis had a telephone conversation with Turkish President Recep Tayyip Erdogan in the aftermath of the…

Nice Muslim terrorist arrived in France from Lampedusa – Watch the moment of his arrest (video)
SLIDE
shares45 views
SLIDE
shares45 views

Nice Muslim terrorist arrived in France from Lampedusa – Watch the moment of his arrest (video)

makis - Oct 29, 2020

A Tunisian man who arrived in Europe with a group of migrants rescued off the coast of Lampedusa in Italy…

Two Greek hotels win TUI top awards
GREECE
shares42 views
GREECE
shares42 views

Two Greek hotels win TUI top awards

Panos - Oct 29, 2020

Two Greek hotels are among the 16 winners of the TUI Global Hotel Awards, a great distinction that boosts the international visibility of the…

Leave a Comment

Your email address will not be published.