BFW 08/08 14:47 *GREEK AID PACKAGE MEMORANDUM AGREED UPON, FRANKFURTER SAYS
Greek Aid Package Memorandum Agreed Upon, Frankfurter Says
2015-08-08 15:14:16.24 GMT
By Richard Weiss
(Bloomberg) -- Creditors agree on 27-page draft that spells
out reforms Greece must undertake in the next 3 yrs to be
eligible for third bailout package, Frankfurter Allgemeine
Sonntagszeitung says, without saying how it got the information.
* Draft to be discussed with Greece govt this weekend, then
presented to EU member states
* If EU member states agree, new aid program can become
effective by Aug. 20, when repayment of a Greek bond is due
* Schedule could be delayed by reservations from Germany
* Greek govt plans to discuss new round of reforms in
parliament Aug. 11; vote on reforms by Aug. 14
* Reforms include cutting defense spending, subsidies for
farmers
* Reform package called “substantial, far-reaching” by
creditor institutions
* NOTE: Greece Races to Secure Bailout Deal as Germans Doubt
Timeframe
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Richard Weiss in Frankfurt at +49-69-92041-287 or
rweiss5@bloomberg.net
To contact the editors responsible for this story:
Benedikt Kammel at +49-30-70010-6230 or
bkammel@bloomberg.net
Richard Weiss
2015-08-08 15:14:16.24 GMT
By Richard Weiss
(Bloomberg) -- Creditors agree on 27-page draft that spells
out reforms Greece must undertake in the next 3 yrs to be
eligible for third bailout package, Frankfurter Allgemeine
Sonntagszeitung says, without saying how it got the information.
* Draft to be discussed with Greece govt this weekend, then
presented to EU member states
* If EU member states agree, new aid program can become
effective by Aug. 20, when repayment of a Greek bond is due
* Schedule could be delayed by reservations from Germany
* Greek govt plans to discuss new round of reforms in
parliament Aug. 11; vote on reforms by Aug. 14
* Reforms include cutting defense spending, subsidies for
farmers
* Reform package called “substantial, far-reaching” by
creditor institutions
* NOTE: Greece Races to Secure Bailout Deal as Germans Doubt
Timeframe
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Richard Weiss in Frankfurt at +49-69-92041-287 or
rweiss5@bloomberg.net
To contact the editors responsible for this story:
Benedikt Kammel at +49-30-70010-6230 or
bkammel@bloomberg.net
Richard Weiss