Greek Borrowing Money Doesn’t Appear to Have End

Greece intends to test the faith of foreign lenders by issuing bonds of up to five billion euros. At the same time, Germany keeps promising country for up to 25 billion euros worth of EU aid. Bond sale is an important touchstone for Greece, whose public debt is expected to rise this year, a fifth of the entire gross national product is larger, the Financial Times writes.

Greek economy will continue to correct downward spin on their own. Country, Prime Minister George Papandreou said on Friday in London that the country needs free money, but merely wishes to borrow under the same conditions as the others.

In practice, loans are given to Greece for some time been clearly received by the Finnish loans more expensive.

Greece on Friday changed its debt management, the agency director. The new manager is a debt to the Bank of Greece Petros Christodoulou, who has previously worked at Goldman Sachs for, JPMorgan and Credit Chaselle & Suisselle. His investment experience are encouraged to help the deficit for tackling. EU plans on a
billions of euros aid package

At the same time as Greece makes plans for new debt collection, Germany promises massive aid package from the EU. Der Spiegel, the German Ministry of Finance to drive 20-25 billion in subsidies to Greece.

Journal of the debt package would be distributed through the European Central Bank and its participation in the financing of each country in relation to the bank otherwise they provide financing. Germany’s share of the pot should be 4-5 billion euros.

Form of the loan would support it, and Spiegel were indexed according to strict conditions. Greek debt crisis revealed a relatively late, including the statistical system deficiencies.

The German Finance Ministry did not confirm the rumors of the aid package. EU economic giant has so far been reluctant to promise aid to Greece, even though the debt worries are pressing the euro.