Maze Cartoon on the Economy of Greece.
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Maze Cartoon topic in the news:
EU/IMF Greece Plan Sees Around EUR110
Billion In Funding Gap
BERLIN -(Dow Jones)- Greece faces a
funding gap of around EUR110 billion over
the next three years, according to the details of a bailout plan from
International Monetary Fund and the European Union seen by Dow Jones
Earlier Sunday, Greek Finance
Minister George Papaconstantinou said that the
new measures imposed to secure access to the unprecedented bailout
the harshest and most austere ever imposed in European history.
The plan, dated May 2, didn't give
details of how much each euro-zone country
and the IMF will give in loans.
"We anticipate covering the
program's financing requirements with financial
support from euro-area member states and the IMF while strengthening
the private capital market," the document said.
"Notwithstanding the significant
fiscal adjustment, we project a public
financing gap of around 110 billion (euros), for the program period,
expect to cover through matching bilateral lending support from euro
states and through IMF support," said the plan.
According to the document...Read