- New package will give Greece time to reform and return to sustainable growth
- Envisages 120.5% debt/GDP by 2020, EUR 130billion until 2014
- Greece to launch new PSI offer in coming days, with nominal haircut on existing PSI of 53.5%
- Spread of interest rate on bilateral loans to be lowered to 150bps over length of loan
- National central banks will pass on any profits from portfolio of Greek bonds to governments
- EU commission will reinforce Greek task force in Athens
- Greece will aim to implement concept of absolute priority of debt payments in next two months
- Hopes that EZ will increase combined capacity of ESM, EFSF ceiling
(Reuters newswires)
