BR100 Increased By (1.05%)
BR30 Increased By (0.47%)
KSE100 Increased By (0.92%)
KSE30 Increased By (1.1%)
AGHA 6.18 Increased By ▲ 0.08 (1.31%)
BECO 4.05 Increased By ▲ 0.02 (0.5%)
BML 61.45 Increased By ▲ 0.75 (1.24%)
BOP 28.41 Decreased By ▼ -0.24 (-0.84%)
CNERGY 12.85 Increased By ▲ 0.05 (0.39%)
CSIL 5.09 Increased By ▲ 0.12 (2.41%)
FCCL 52.48 Decreased By ▼ -0.35 (-0.66%)
FFL 12.95 Increased By ▲ 0.01 (0.08%)
FNEL 1.12 No Change ▼ 0.00 (0%)
KEL 5.79 Decreased By ▼ -0.04 (-0.69%)
KOSM 5.28 Decreased By ▼ -0.02 (-0.38%)
LOTCHEM 24.10 Decreased By ▼ -0.03 (-0.12%)
MLCF 91.10 Decreased By ▼ -0.28 (-0.31%)
NBP 162.62 Decreased By ▼ -2.35 (-1.42%)
NCPL 49.30 Decreased By ▼ -0.79 (-1.58%)
NPL 52.80 Decreased By ▼ -0.51 (-0.96%)
OGDC 304.00 Increased By ▲ 0.32 (0.11%)
PACE 9.35 Increased By ▲ 0.05 (0.54%)
PAEL 32.80 Decreased By ▼ -0.02 (-0.06%)
PIBTL 12.95 Decreased By ▼ -0.08 (-0.61%)
PPL 215.49 Increased By ▲ 0.41 (0.19%)
PRL 93.32 Decreased By ▼ -0.84 (-0.89%)
PTC 44.29 Increased By ▲ 1.45 (3.38%)
SSGC 22.86 Decreased By ▼ -0.08 (-0.35%)
TBL 9.46 Decreased By ▼ -0.15 (-1.56%)
TELE 6.90 Increased By ▲ 0.09 (1.32%)
TPL 24.60 Increased By ▲ 0.72 (3.02%)
TPLP 12.40 Decreased By ▼ -0.04 (-0.32%)
TREET 23.85 Increased By ▲ 0.15 (0.63%)
TRG 53.50 Decreased By ▼ -0.12 (-0.22%)
World

Greece not expecting conditions attached to any future aid

Published Updated

imageATHENS: Greece may need a further 10 billion euros in extra support from its euro zone partners but would not expect any loan to come with conditions attached, its finance minister told Proto Thema newspaper on Sunday.

Athens faces a funding gap of about 11 billion euros in 2014-15 after its current bailout programme ends in the first half of next year and its euro zone partners have pledged additional support until it can tap markets again.

"If Greece needs further support, it will be around 10 billion euros," Finance Minister Yannis Stournaras told the paper.

"We are not talking about a new bailout but an economic support package without new (austerity) terms Until 2016 the targets our obligation have been set and other measures or targets cannot be required."

Speculation that Athens may need a new bailout has heated up after recent comments by German Finance Minister Wolfgang Schaueble.

On Saturday, EU Energy Commissioner Guenther Oettinger said he expected new support for Greece to amount to a little more than 10 billion euros, fuelling a debate that could hurt Chancellor Angela Merkel in next month's election.

Mired in its sixth straight year of recession, Greece has already been bailed out twice since 2010 with 240 billion euros of loans coordinated by the ECB, European Union and International Monetary Fund.

Stournaras said there was no discussion about a haircut of Greece's debt and that much would depend on whether the country achieves a primary budget surplus this year, excluding debt servicing costs.

"The decisions by the EU regarding the amount of the new funding, the extension of maturities of our debt and a reduction of the interest rate on loans will be based on 2013 (fiscal) results," he told the paper.

"At the end of 2013 it will be determined whether we finally have a primary surplus this year or will achieve it next year," he said.

Comments

Comments are closed for this article.