The size of the new bailout package for Greece has not yet been determined, but it certainly will not include conditions for a partial restructuring of Greek debt. French Finance Minister Christine Lagarde announced this to reporters today.

“The development of a new financial assistance program by Athens continues, and there are no specific figures yet,” Reuters quoted C. Lagarde as saying . Answering a question regarding the restructuring of the Greek debt, the head of the French Ministry of Finance emphasized that this is not at issue.

The currently agreed terms for providing assistance to Greece suggest that the country will be able to enter the borrowing market early next year. However, it is still unclear whether private investors will participate in the new assistance program.

It is also assumed that one of the conditions for providing assistance is the further reduction by Athens of the budget deficit, which at the end of 2010. was again above the 10 percent mark.

Last May, the EU and the IMF opened a credit line of 110 billion euros for Greece, from which Athens has already been allocated funds to overcome the consequences of the financial crisis. Already this year, the Eurozone Economic and Financial Committee agreed on a program of additional financial assistance to Athens, which could replace the previous credit line. So far, the size of the new loan, as well as the share of each of the creditor states in it, have not been determined.

Meanwhile, large-scale protests continue in Greece against government measures to overcome the crisis, which are called “austerity measures.” They involve lower wages, job cuts, raising the retirement age and reducing other social spending. The plan to further reduce Greece's budget expenditures is subject to approval by EU finance ministers on June 20, 2011.

C. Lagarde: The size of the new aid package for Greece has not yet been determined