Greece save for the third time – BBC

Greece will receive a new financial aid package from the European Union. Dedicated Athens € 85 billion will be spent on servicing the Greek debt. Greek banks will also be further allocated about € 10 billion, which will be recapitalized by the end of 2015.

Authorities in Greece and international creditors have reached an agreement on a new multi-billion dollar financial assistance program. Thus, the country will receive is the third bailout package for the last five years.

According to the Minister of Finance of Greece Euclid Tsakalotosa, the parties reached agreement on most points of the document and still have to discuss only two or three points. “The agreement was reached. At the moment, we continue to discuss the fine details of the document, “- said the representative of the Ministry of Finance. According to the representative of the European Commission (EC), the agreement reached at a technical level. The last point can be agreed in the course of the day.

The amount of aid to Greece for three years, according to various reports, will be between € 85 billion. Greek banks will also be further allocated about € 10 billion, which will be recapitalized by the end of 2015 . http://www.gazeta.ru/business/news/2015/08/11/n_7451317.shtml

Among one of the points of agreement between the country and its creditors – budget figures on the next three years, until 2018, in particular, the achievement of a budget surplus in Greece 1% by 2017, reported Reuters citing a senior source in the Greek government. Growth of economic indicators should reach 2.3% in 2017, in 2016 is expected to fall by 0.5%.

The negotiations on a package of aid to Greece have been even better than expected. The deadline to which the government had to negotiate with your creditors – August 20, when you need to send to the ECB of € 3 billion on debt repayment, which, without the aid package in Greece is not.

However, last week it was known that the negotiations had been made “some progress», celebrated German edition of Deutsche Welle. Lenders called cooperation with the Greek authorities, “very good.” At the same time it was expected that an agreement can be achieved shortly after the 15th of August.

There are fewer defaulted and investors began to worry. The yield on two-year debt bonds fell by 4.2% to 14.73% per annum. Athex index of the Athens Stock Exchange, which recently reopened after a five-week break since the beginning of the day increased by 2,2%.

However, Europeans also have to make concessions, as the financial problems of Greece threatened across the EU. In particular, in early August, the international rating agency Standard & amp; Poor’s (S & amp; P) downgraded the credit rating of the EU from “stable” to “negative” credit rating unchanged. However, as reported S & amp; P, a key negative factor is the European Union Greece, as EU funds will be directed at ensuring financial stability in the country.

European countries provide financial support to Greece and beyond bailout. For example, the ECB has kept the credit limit of Greek banks in the framework of emergency credit assistance (ELA) at $ 90.4 billion, passed Bloomberg, citing sources.