Greece has met 2nd bailout terms -draft Eurogroup statement
BRUSSELS, March 9 (Reuters) - Greece has taken all the
steps required to get a second bailout and the euro zone can go
ahead with the disbursement of funds to finance Greece's debt
swap via sweeteners, the chairman of euro zone finance ministers
will say on Friday.
"I welcome the significant progress achieved in the
preparation of the second Greek adjustment programme," Eurogroup
President Jean-Claude Juncker will say, according to a draft of
his statement obtained by Reuters.
"I particularly welcome the detailed assessment of the
Troika that Greece has implemented all agreed prior actions in a
satisfactory manner," said the draft, to be released after a
teleconference of ministers that started at 1130 GMT.
The Troika are inspectors from the European Commission, the
European Central Bank and the International Monetary Fund whose
approval of Greek reforms is necessary to provide Greece with a
new, 130 billion euro financing package through 2014.
"I look forward to a significant contribution by the IMF to
the financing of the new Greek programme," the draft said. The
IMF board is to meet on March 15 to discuss the size of the
fund's contribution to the bailout.
Juncker said in the draft he was encouraged by the high
participation of private investors in the Greek debt exchange,
that closed yesterday and urged Athens to keep rigorously
pursuing reforms in line with the new programme.
"Against this background, the disbursement of the euro
area's contribution to the PSI operation in the form of EFSF
bonds for the settlement of the Greek-law bonds as well as the
accrued interest on the exchanged bonds can proceed as planned,"
Juncker is to say according to the draft.
"I consider that the necessary conditions are in place to
launch the relevant national procedures required for the final
approval of the euro area's contribution to the financing of the
second Greek adjustment programme," the draft said.
(Reporting By Jan Strupczewski; editing by Luke Baker)
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Keywords: EUROGROUP GREECE/