Arab Today, arab today eurozone lets greece off hook for now on loan repayment
Last Updated : GMT 22:49:43
Arab Today, arab today
Arab Today, arab today

Eurozone lets Greece off hook for now on loan repayment

Arab Today, arab today

Arab Today, arab today Eurozone lets Greece off hook for now on loan repayment

Eurozone finance ministers
Luxembourg - MENA

Eurozone governments on Friday decided not to ask Greece for an immediate repayment of rescue loans from the currency union's bailout fund in response to Athens' default on its loan from the International Monetary Fund, the Market Watch reported.

The European Financial Stability Facility has lent Greece €144.6 billion ($160 billion) in recent years and the terms of those loans allow the fund to seek immediate repayment if a borrower defaults on the IMF. Greece missed a €1.56 billion payment to the IMF on Tuesday.

The EFSF's board of directors, which consists of senior-finance ministry officials from the 19 Eurozone countries, has reserved its right to take action on the loans to Greece at a later stage, the fund said in a statement.

"The EFSF is Greece's biggest creditor. This event of default is cause for deep concern," the EFSF Managing Director Klaus Regling said. "It breaks the commitment made by Greece to honor its financial obligations to all its creditors, and it opens the door to severe consequences for the Greek economy and the Greek people. The EFSF will closely coordinate with the euro area member states, the European Commission, and the IMF on its future actions."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozone lets greece off hook for now on loan repayment Arab Today, arab today eurozone lets greece off hook for now on loan repayment

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozone lets greece off hook for now on loan repayment Arab Today, arab today eurozone lets greece off hook for now on loan repayment

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday