Bloomberg News

New Greek Financing Plan From EU Is More Favorable: Venizelos

October 27, 2011

Oct. 27 (Bloomberg) -- The new financing package for Greece decided at a summit meeting of European leaders early today is based on the July 21 decisions and contains lower rates and longer maturities, Finance Minister Evangelos Venizelos said.

The ‘PSI-Plus’ package, a reference to private-sector involvement, aims for a Greek debt ratio of 120 percent of gross domestic product by 2020 and is “more balanced and more favorable for Greece,” Venizelos said in comments televised live today on state-run NET TV.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Maria Petrakis at mpetrakis@bloomberg.net


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