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Friday, June 26, 2015

Euro zone can help Greece repay debt in five month bailout extension

The euro zone can help Greece repay maturing debt in the coming months with money that remains available to Athens under the current bailout if the programme is extended by five months to November, a note prepared for euro zone finance ministers said. The financing note, seen by Reuters, put the total available amount for Greece at 16.3 billion euros ($18.3 billion), composed of 10.9 billion euros now earmarked for Greek bank recapitalisation, the 1.8 billion remaining tranche from the euro zone bailout fund and 3.6 billion euros from profits made by the European Central Bank in 2014 and 2015 on purchased Greek bonds. The Greek bailout expires on Tuesday and the money still available would disappear if there is no request for an extension from Athens.


READ THE ORIGINAL POST AT uk.news.yahoo.com