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Announced the end of the financial crisis around Greece

Announced the end of the financial crisis around Greece

22 2018 June LJ cover – Объявлено о завершении финансового кризиса вокруг Греции
Tags: Greece, Economy, Crisis

The financial crisis around Greece is settled, said European Commissioner for Economic and Financial Affairs Pierre Moskosvici.

The Eurogroup approved the completion of the third and final program of macro-financial assistance to Greece. The terms of repayment of the euro zone stabilization fund loans have been extended for 10 years, Greece has been granted an 10-year grace period on interest payments, the latest tranche of 15 billion euros has been agreed upon, the chairman of the group Mario Centeno said.

"The financial crisis around Greece today is over," Tass quotes Moskosvisi as saying.

He noted that Grexit was avoided twice - in 2012 and 2015. Greece is now waiting for the continuation of the course of reforms.

Financial benefits for Athens will affect macrofinance loans for a total of 96,6 billion euros.

At the same time, IMF head Christine Lagarde said that Greece's ability to service debt is still in doubt.

Greece will withdraw from the last aid program in August, having a liquidity reserve of 24,1 billion euros, sufficient to pay interest on debt within 22 months.

In 2015, European Commission President Jean-Claude Juncker confirmed that Greece does not leave the European currency zone, the European Commission has been striving for this result since the very beginning of the financial crisis.

Anton Antonov
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