Greece to receive 4.9 billion euros to cover funding needs for April

An emergency Eurogroup meeting to take place on Friday or Monday may provide a 4.9-billion-euro lifeline to Greece, provided a…

An emergency Eurogroup meeting to take place on Friday or Monday may provide a 4.9-billion-euro lifeline to Greece, provided a political decision is reached.

According to To Vima’s sources, this package of 4.9 billion euros is comprised of 1.9 billion euros from the SMPs, namely the profits which the ECB and other Eurozone central banks gained from Greek bonds in the past. A further1.2 billion euros will come from the ESM. This 3.1 billion euros cold help Greece cover its needs in April without implementing any measures of the previous program.

An additional 1.8 billion euros will be made available from the EFSF, namely the final tranche from the old program. Accepting this installment though requires an agreement over the reforms and completion of the review, which will not take place before the end of April.

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