Greece salvation plan is ready

The finance ministers of the Eurozone countries have developed a mechanism for the assistance of Greece, which, if necessary, will save the country from default. However, officials believe, this plan will not be needed. The last steps of Greece to reduce budget expenditures allow her to borrow on the market on her own, Interfax reports.

The proposed mechanism will be a "coordinated action at the European level", in which all Eurozone countries will take part. True, officially not yet announced the amount of possible assistance, or the scale of participation in the program of individual states.

“We clarified the technical mechanisms that allow us to take coordinated actions that can be quickly launched if necessary,” said Jean-Claude Jeanker Prime Minister Jean-Claude Jean-Claude on Monday evening. According to him, "the mechanism will not include the provision of credit guarantees." The plan will be a "coordinated action at the European level, within which Greece will gain access to two -way assistance." At the same time, Junker noted, all Eurozone countries will take part in the action.

However, the mechanism will be launched only if necessary. "We still think that it will not be needed," said J.-K. Junker. Yes, and the "drowning" himself did not ask for salvation. “Greece did not seek help,” says Joseph Proll, Minister of Finance of Austria.

At the same time, the details of the developed program are not reported. As follows from the statements of other ministers, officials still finalize the conditions for providing assistance and the final decision regarding the mechanism will be made by the Minister of Finance of all 27 countries of the European Union.

The ministers say that the last steps of Greece to reduce budget expenditures allow the country to independently borrow in the market. In March, Greece conducted the successful placement of government bonds, which somewhat reduced the intensity of passions around the country. However, in April-May, Athens will have to occupy another 20 billion euros.