Monday, February 11, 2013
An additional sum of € 2 billion is also expected after 2016, following a revision of the country’s contribution to the budget, as a result of the GDP shrinkage caused by the crisis. "Under difficult conditions, we achieved the best we possibly could," said the PM, adding that this decision is "a psychological boost for us all." The package for Greece is smaller than the previous one, when Greece received €25 billion.
This reflects the overall trimming of the EU budget by about 3% to €960 billion. Greece was also hampered by the fact that payments were calculated on the basis of pre-crisis GDP levels. However, the overall amount Greece will be receiving is higher than the one originally calculated (around € 11 bn).
EU Consilium: EU Council's Conclusions
This reflects the overall trimming of the EU budget by about 3% to €960 billion. Greece was also hampered by the fact that payments were calculated on the basis of pre-crisis GDP levels. However, the overall amount Greece will be receiving is higher than the one originally calculated (around € 11 bn). EU Consilium: EU Council's Conclusions
