Tagged: Greece aid

HIGHLIGHTS – Greek finmin details EU/IMF aid deal

Reuters | Sun May 2, 2010 | 3:58pm IST

The choice was rescue or collapse, Greek Finance Minister George Papaconstantinou said on Sunday after the debt-choked country clinched a multi-billion euro aid deal with the EU and the IMF.

Here are highlights from his comments during a news conference:

DEAL

"The cabinet decided to accept the programme it negotiated with the ECB, EU and the IMF… the decision on the size of the aid will be announced today after the Eurogroup meeting."

RESCUE OR COLLAPSE

"We are all being called to make a choice. The choice is collapse or salvation. The choice is between fleshing out a very ambitious and difficult 3-year programme of fiscal consolidation, a programme of structural reforms … or the country to reach an absolute dead-end."

PROTECTED FROM MARKET EXPOSURE

"Thanks to the aid the country will be protected from market exposure for the rest of 2010, 2011 and 2012."    

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