Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Greece should get more time, aid: ECB member  Join our daily free Newsletter

MENAFN - AFP - 10/11/2012

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - AFP) Debt-laden Greece should get more time and more aid if necessary to put its financial house in order and remain in the eurozone, a member of the European Central Bank said in an interview published on Saturday.

"It is preferable that Greece remains in the eurozone," Jorg Asmussen, a German ECB board member, told the Belgian economic daily l'Echo.

"If that means additional aid for one or two years more, that will be significantly less expensive than it leaving (the eurozone) or a default," he was quoted as saying.

The comments come ahead of a meeting on Monday in Brussels of the eurozone finance ministers, who are due to discuss releasing the latest aid tranche of 31.5 billion euros to Greece, which has been held back since June.

The ministers are not expected to decide to release the aid at their meeting on Monday.

The eurozone is waiting for the latest report on Greece's finances from its 'troika' of creditors -- the European Union, the ECB and the International Monetary Fund.

"We are in the process of completing the analysis of the Greek adjustment programme," Asmussen said.

Greece has asked for an extra two years to bring its debt under control and stabilise public finances.

In an interview with the Sunday edition of the Die Welt daily, German President Joachim Gauck said that many Germans think that providing aid to Greece "is costing too much and that we, the Germans, are going to ruin ourselves as a result."

"No, we will absolutely not ruin ourselves. Not as long as we keep the Greeks inside the euro," he said.

Separately, Germany's Der Spiegel weekly reported on Saturday that the troika has demanded from Athens a list of names of the 2,000 civil servants to be fired before the end of the year.

"The troika is expecting that some 2,000 civil servants will be fired before the end of the year. And it is no longer content with figures. It also wants the surnames and the names" of those to be let go, the daily wrote on its website citing a source close to the negotiations.

This past week the Greek parliament narrowly passed the latest austerity package in the face of popular anger at more belt-tightening in a country with soaring unemployment that is facing a sixth year of recession.

On Sunday, lawmakers are due to vote on the 2013 budget, another key test for the embattled Greek government.


 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help