Friday, December 14, 2012
The Eurogroup formally approved, yesterday, the disbursement of the much-awaited tranche of the bailout loan to Greece, following a review of the outcome of the debt buyback operation concluded on December 12. The decision marks the end of a "long and difficult period of anxiety in Greece, putting an end to rumours of the country's exit from the euro," Prime Minister Antonis Samaras said in a press conference held in Brussels.
As the premier noted, Greece was granted a great opportunity to emerge from the crisis standing and stronger, while Finance minister Yannis Stournaras commented that "Greece has bought time, and has won an opportunity to carry out reforms at a comfortable pace and not at gunpoint."
- Loan Tranche on the Way
In a related statement, the Eurogroup notes that the buyback operation together with the initiatives agreed on by the Eurogroup on November 27, and the full implementation of the adjustment programme, should bring Greece's public debt back on a sustainable path, to 124% of GDP in 2020. Moreover, it says that Greece and the other euro area Member States are prepared to take additional measures, if necessary, to ensure that this objective is met and on that basis, member states have authorised the EFSF to release the next installment for a total amount of € 49.1 billion.
PrimeMinister.GR: Press Conference Statement; Kathimerini: Greece Gets Green Light for crucial loans
