SCHEDA - Grecia, i termini dei prestiti di emergenza Ue

lunedì 3 maggio 2010 13:06
 

 May 2 (Reuters) - Qui sotto in inglese i punti chiave
dell'accordo dei ministri delle finanze della zona euro sul
pacchetto di salvataggio da 110 miliardi di euro.
 
 HOW MUCH MONEY CAN GREECE COUNT ON?
 A total of 110 billion euros ($146.5 billion).
 WHO WOULD LEND TO GREECE? 
 All countries using the euro single currency and the
International Monetary Fund. Euro zone member states would
contribute to the loans according to their respective holdings
in the European Central Bank's capital. For a detailed breakdown
see: here
 BURDEN SHARING AMONG LENDERS 
 The euro zone would lend 80 billion euros in bilateral loans
and 30 billion would come from the International Monetary Fund.
 LENGTH OF STAND-BY LOAN PROGRAMME
 Three years -- until 2012.
 FIRST PAYOUT  
 In 2010 Greece will receive 30 billion euros from the euro
zone. Greece will get the first funds before May 19, when it has
to pay back 8.5 billion euros in debt. 
 INTEREST  
 For the euro zone, variable rate loans would be made on the
basis of three-month EURIBOR rates, while fixed-rate loans will
be based upon the rates corresponding to EURIBOR swap rates for
the relevant maturities. On top of that, there will be a charge
of 300 basis points. An additional 100 basis points will be
charged for loans longer than three years. In conformity with
IMF charges, a one-time service fee of a maximum 50 basis points
will be charged to cover operational costs. The euro zone loans
would carry an interest rate of around 5 percent, Economic and
Monetary Affairs Commissioner Olli Rehn said. Interest on IMF
loans is smaller, Rehn has said.
 HOW GREECE WILL GET THE MONEY  
 Greece requested the money on April 23, believing it could
not finance itself on the markets. 
 The ECB and the European Commission said the request was
justified. Euro zone finance ministers unanimously agreed after
yields on Greek bonds soared above 10 percent. A summit of euro
zone leaders on May 7 will rubber-stamp the ministers' decision.
Eurogroup Chairman Jean-Claude Juncker said there was no
possibility of the leaders changing the decision. The leaders
are to exchange information on progress in the parliamentary
approval process for the loans in their respective countries.
The ECB pays out the money while the Commission acts as a
coordinator of the bilateral loans. The IMF board is to approve
its 30 billion euro portion of loans to Greece this week, IMF
head Dominique Strauss-Kahn said. 
 CONDITIONALITY
 The loans to Greece are linked to progress in the reform and
austerity measures promised by Athens, which will be reviewed on
a quarterly basis. The amount of loans to be paid out will be
determined after each of such quarterly reviews. 
 
 (Reporting by Jan Strupczewski; Editing by Charles Dick)