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Greece confident of more bailout money


Greece confident of more bailout money


Greece’s finances have again been in the spotlight as officials from the International Monetary Fund, the European Commission, and European Central Bank arrived in Athens to check Greek spending cuts during the fourth-quarter of last year.

Athens said it was confident it had done enough to get the next instalment of aid money – 15 billion euros – part of the bailout plan that saved Greece from bankruptcy last March.

At the same time Greece’s Deputy Prime Minister Theodoros Pangalos has spoken out against Germany’s new austerity plan intended to make the EU more competitive.

“I reject categorically the thought of an EU decision to intervene in all national constitutions,” Pangalos told daily Ta Nea in an interview. “The thought that this be a precondition for joining in the German rescue plan is not attractive to me,” he said

Portugal, Belgium, Spain, Italy, Austria and Ireland are also opposed.

Portugal meanwhile is finding it easier to borrow money.

For its latest batch of government bonds, demand was double what it had to sell and Lisbon did not have to offer sky high interest rates to find investors.

It raised 3.5 billion euros and is paying 6.4 percent.

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