Eurogroup: In three stages and under conditions to reform the Greek debt
In three stages and under certain conditions will be the reform of Greek debt, according to the Eurogroup statement on Greece.
The statement specifically mentioned that the Eurogroup agreed on the following general guidelines for possible additional measures for debt.
(I) The facilitation of access to bond market
(Ii) normalization of repayment profile
(Iii) providing incentives for the country's adjustment process, even after the program ends
(Iv) the flexibility to anticipate the impact of fluctuations of GDP and interest rates in the future.
Specifically stated that the Eurogroup will examine the following:
In the short term, the possibilities for maximizing the management of the project debt.
In the medium term, the Eurogroup asks the EWG to seek concrete measures (such as the extension of grace and repayment periods) that can be used, if necessary, at the end of the ESM program, subject to the successful implementation of the program, and measures such as the use of profits bond holdings of the central banks of the eurozone (SMPs and ANFA).
In the long run, the Eurogroup is ready, if necessary, and provided that the targets for the primary surplus will be achieved, to assess at the end of the need for possible additional measures program on debt to ensure that gross financing needs Greece remains on a sustainable path.
In three stages and under certain conditions will be the reform of Greek debt, according to the Eurogroup statement on Greece.
The statement specifically mentioned that the Eurogroup agreed on the following general guidelines for possible additional measures for debt.
(I) The facilitation of access to bond market
(Ii) normalization of repayment profile
(Iii) providing incentives for the country's adjustment process, even after the program ends
(Iv) the flexibility to anticipate the impact of fluctuations of GDP and interest rates in the future.
Specifically stated that the Eurogroup will examine the following:
In the short term, the possibilities for maximizing the management of the project debt.
In the medium term, the Eurogroup asks the EWG to seek concrete measures (such as the extension of grace and repayment periods) that can be used, if necessary, at the end of the ESM program, subject to the successful implementation of the program, and measures such as the use of profits bond holdings of the central banks of the eurozone (SMPs and ANFA).
In the long run, the Eurogroup is ready, if necessary, and provided that the targets for the primary surplus will be achieved, to assess at the end of the need for possible additional measures program on debt to ensure that gross financing needs Greece remains on a sustainable path.
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