In mano ad incapaci, un gruppo di bambini delle elementari farebbe meglio....
Eurogroup to boost EFSF, explore ways to finance a new program to Greece
In a common statement after the Eurogroup meeting, Eurozone ministers said that a working group is set up to explore the ways for financing a new multi-annual adjustment program for Greece, as well as the steps required to reduce the country's debt service cost and ways to improve sustainability of the Greek debt. The ministers expect to reach to an agreement shortly. They also said that they will take measures to enhance the flexibility and the scope of EFSF, lengthen the maturities of the loans and lower the interest rates. Ministers welcomed the reinforcement of the monitoring of Greece's program. The ministers also noted that ECB ruled out any solution that may trigger a credit event or a selective default. Eurogroup Chairman Juncker said that the private investors will definitely participate to the new aid package to Greece, while the way will be concluded as soon as possible. According to press reports, Eurzone ministers will meet again this month to seal an agreement. German Finmin Schaeuble asked the ministers to re-examine the German plan to swap GGBs with new ones with longer maturity. EU Commissioner Rehn said that could not rule out a bond buyback scheme as a way to enhance the flexibility of EFSF. IMF head Lagarde said that the fund is not yet ready to discuss the details on a second aid package to Greece. In a letter to the Eurogroup, PM Papandreou urged the ministers to come up with a comprehensive, rather than a one-off solution, for Greece's problems. Overall, Eurogroup did not come up with any clear plan regarding Greece, with any decisions expected at a later stage.
