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Dijsselbloem: EU Is Willing to Help Greece

Jeroen-Dijsselbloem-EUROGROUP
Arriving at the opening of the Eurogroup meeting on Thursday, in which Greece’s next day after the memorandum exit will be tabled, Jeroen Dijsselbloem declared that it is Europe’s will to assist Greece. “After Greece completes, in a satisfactory way, the review and wants support, the Eurozone will be willing to help,” the Eurogroup President said, underlining that this will be decided in the next Eurogroup meeting on December 8.
On his behalf, the European Commissioner for Economic and Financial Affairs, Taxation and Customs, Pierre Moscovici, repeated his will to make his first official bilateral visit to Greece, which as he revealed, is planned to take place before the December 8 critical Eurogroup, underlining the necessity of reaching solutions for both Greece and Cyprus.
On Wednesday, while exiting a meeting with Prime Minister Antonis Samaras at the Greek government headquarters and commenting on the current Eurogoup and the importance of its outcome, government Vice President and Foreign Minister Evangelos Venizelos characterized it as crucial for the particularly difficult and delicate negotiation the government is now carrying out in order to “complete this phase and move on to a new phase, after the memorandum and the Troika, with all the safeguards of the existing European mechanisms.”
The precautionary credit line for Greece is the epicenter of the current Eurogroup meeting but the session is considered preparatory, setting the framework for the one on December 8, when a final decision will be made regarding the country’s “transition program,” which will come in effect by 2015, after the end of the current program on December 31, 2014.
According to government sources, the Greek side desires the precautionary credit line to be compromised of 8 billion euros, out of a total 11.5 billion euros that Greece has borrowed through the Hellenic Financial Stability Fund (HFSF), plus six billion euros from the profits that Eurozone member states made off Greek bonds (SMPs). In contrast, the International Monetary Fund (IMF) is seeking to maintain a more active role, declining the possibility of merely offering technical assistance after December.

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