Bloomberg News

Schaeuble Says Greek Loan Rate to Be Cut to 150 BP Over Euribor

February 21, 2012

Feb. 21 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble said euro-region ministers at a meeting in Brussels have agreed to reduce the interest rate on the loans to Greece under the country’s first aid program to 150 basis points over Euribor.

National central banks that have made profits from their investments in Greek bonds will use the gains to help lower Greece’s debt, which may amount to 1.8 percent of the debt load, he said. Schaeuble was speaking to reporters in Brussels.

To contact the editor responsible for this story: Rainer Buergin at rbuergin1@bloomberg.net


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