Eurozone outlines new, 90-bln-euro bailout for Greece
 
 
 Luxembourg's Juncker holds conference call with finance ministers
    
       Eurozone finance ministers launched formal talks on Wednesday by  telephone over the details of a new Greek rescue package which an EU  diplomat told Agence-France Presse will top 90 billion euros.
Eurogroup  President Jean-Claude Juncker said in a statement that the finance  ministers held a conference call Wednesday afternoon to exchange views  on last week's assessment of Greece's situation by the troika of the  European Commission, the European Central Bank and the International  Monetary Fund. .
"We acknowledged the significant progress  achieved so far by the Greek authorities, in particular as regards  fiscal consolidation, although a reinvigoration of fiscal and broader  structural reforms remains necessary,» Juncker said in a press release.
Juncker  praised the Greek government's commitment to a 50-billion-euro  privatization program and underlined the importance of cross-party  political support in Greece.
"We share the view expressed by the  troika that strict implementation will help restore fiscal  sustainability, safeguard financial stability and boost  competitiveness,» he said.
An EU diplomat told AFP that the  sell-off program would be expected to contribute «one third» of the new  bailout plan. Another third would come from eurozone and IMF loans,  although it is not clear if that is on top of loans still to be paid out  under the first bailout.
In a letter sent to eurozone partners  also made public on Wednesday, German Finance Minister Wolfgang  Schaeuble said private banks must forego collecting Greek public debts  for seven years as a condition for funnelling new financial aid to  Athens.
An agreement could be reached «through a bond swap leading  to a prolongation of the outstanding Greek sovereign bonds by seven  years."
                            
      
  
 
ekathimerini.com , Thursday  June 9, 2011 (11:00)