Handelsblatt: Additional help for Greece in exchange for reforms

According to a recent report in German financial newspaper Handelsblatt, Europe is considering offering Greece an enhanced…

According to a recent report in German financial newspaper Handelsblatt, Europe is considering offering Greece an enhanced conditions credit line (ECCL), in exchange for further reforms.

The German newspaper cites a confidential Taskforce report on Greece, which claims that an enhance conditions credit line may be offered to Greece in the future, should an agreement be made on reforms. No such decision has been made since the negotiations have not yet concluded.

The Taskforce document further notes that nothing has been decided regarding the structure of cooperation, with government sources suggesting that it will not need to be as detailed, since the second aid program includes hundreds of individual measures. Dozens of terms appear to be up for debate.

In order to maintain the reforms, Europe is considering offering Greece a series of incentives, which include the European Central Bank returning to Greece the profits made by Greek bonds. This may amount to billions of euros.

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