Key Links for the Greek Financing Package
IMF Blog, May 2, 2010
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- Published: May 2, 2010
Overview
- Date: May 2, 2010
- Greece announced May 2 it had reached agreement with the International Monetary Fund (IMF), the European Commission, and the European Central Bank (ECB) on a targeted program to stabilize its economy, become more competitive, and restore market confidence with the support of a €110 billion (about $145 billion) financing package.
- Negotiators over the weekend wrapped up details of the package.
Package components and policy measures
- Budget cuts.
- A freeze in wages and pensions for three years.
- Tax increases to address Greece's fiscal and debt problems.
- Deep reforms designed to strengthen Greece’s competitiveness and revive stalled economic growth.
Key documents and material (listed items)
- Greek Prime Minister announces agreement with the EU and the IMF
- IMF Survey magazine article on the weekend deal
- IMF approves loan
- The IMF and Greece: fast facts
- IMF and Greece: country page
- IMF Managing Director on the program
- Eurogroup ministers' statement
- Straus-Kahn and Merkel: pre-deal talks
- Video: IMF mission chief explains the program
- Institute of International Finance reaction
- Video: Trichet sees program as decisive
- Video: IMF mission chief on CNBC
- Ficht: "Plan reduces credit risk."
- ECB action
- IMF welcomes euro stabilization plan
- Straus-Kahn interviewed by Euronews
Reactions and commentary (implicit in listed material)
- Institutional endorsements and commentary from IMF, ECB, Eurogroup ministers, and the Institute of International Finance.
- Media and video interviews featuring IMF and ECB officials, including IMF mission chief and Straus-Kahn.
- Market commentary such as Ficht: "Plan reduces credit risk."
Key Links for the Greek Financing Package — May 2, 2010