Frankfurt, Germany - Greece could obtain an another euro20 billion (28 billion dollars) with fellow euro countries and raise three times this austerity again through measures such as the sale of the property of the Government, a senior European Central Bank official said.
Lorenzo Bini Smaghi, Member of the Executive Board of the ECB, is cited by the Financial Times as saying that the needs of the Greece between euro60 billion and euro70 billion next year.
This gap could be filled in several ways, Bini Smaghi said, giving a rough sketch of a plan for additional assistance which was shared between the Government and the private sector contributions.
Money from the private sector would come partly from the sale of property of the Government and reinvested of Greek banks investments and granting of short-term government debt.
The Government half will be divided, the two third of the countries of the euro area, roughly euro20 billion and the rest of the Monetary Fund International.
He said the plan "must be studied more" and would require any concrete commitments of the Greek Government to continue to work to remedy its finances. Greek political parties, has however not week last to accept a new austerity plan.
Bini Smaghi new rejected any reduction of the debt through restructuring - that is, Greece, delaying repayment or pay less than the full amount. He said that it would mean a "major, economic, social and even humanitarian disaster". He said Greek banks could renew some of ther holdings, probably voluntarily.
Earlier in the financial crisis, European officials pressed successfully banks voluntarily maintain their exposures to countries in trouble in Eastern Europe.
The Greece has already obtained a rescue plan last year a European billion of euro value and the IMF. But its economy continues to deteriorate and the Government said that it will be not able to exploit the financial markets as planned next year.
Responsible for the EU are under pressure to secure the funding for at least a year ahead Greece, with Prime Minister Juncker Jean-Claude of Luxembourg saying last week that the IMF rules would not pay on the next episode of its loans to the Greece in June otherwise.
Bini Smaghi said "If the Greek Government is committed to the program, the IMF will disburse entitled primary and I am satisfied that the countries of the eurozone will disburse their part entitled primary".
Monday, the Bank said that for the ninth straight week he left dormant program to purchase bonds of troubled countries. The Bank has interrupted the purchases, which has helped keep yields of interest rate on the obligations of the country, after trying without success to obtain funds from the EU to support rescue.
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