Greece will receive 86 billion. Euros as part of the third rescue program for the country, it became clear after 17 hours-long meeting of eurozone leaders. Athens itself requested 53.5 billion. Euro. In exchange for the higher amount it must meet a number of serious requirements during the midnight meeting they were often defined by observers as "almost unenforceable."
Among them are key legislative changes that should be routed for only three days.
Privatization Fund for State Assets of Greece will be announced at a special press conference the chairman of the Eurogroup - Dutch Finance Minister Jeroen Diselblum. He said that the funds generated from sales will be used for recapitalization of banks in the country.
He explained that the size of this fund will be 50 billion. Euros, but he will be based in Greece. Advance requests were this fund to be in Luxembourg and managed by the German development bank KfW.
Another important achievement of the Greek Prime Minister is increasing the program to recapitalize the Greek banks. The sector will receive 25 bln. Euro, the details of this scheme will be discussed a little later with representatives of the European Central Bank (ECB).
Later today will be discussed and a plan to provide bridge financing to Greece. This will happen during planned for later today a meeting of the Eurozone.
A compromise and in this situation there are no winners and losers, said in turn President of the European Commission, Jean-Claude Juncker. He said he was satisfied with the agreements reached.
"We welcome the progress of Greece to regain the confidence of our European partners," he said in turn President of the European Council, Donald Tusk.
The first official statement after the meeting of eurozone leaders that lasted a record 17 hours, it became clear that the Greek government has taken any steps to restore the confidence of its European partners. To prove their desire for reforms, however, Alexis Tsipras will have to succeed only three days to push through key reforms to the pension system, the increase in VAT and other important changes requested by the Eurogroup.
German Chancellor Angela Merkel said that if they met the demands of the euro area, Greece will receive 86 billion. Euro instead requested 53.5 billion. Euro. In response to a question about Plan B in the absence of implementation of the demands of the eurozone, Merkel was adamant that Plan A is doable and hopes not to reach another option. "I have no doubt that the laws will be adopted by the Greek Parliament," she said, adding that Greece has demonstrated a strong desire to stay in the eurozone.
In the last six months we had an uphill battle, noted in turn Greek Prime Minister Alexis Tsipras said in a statement after the meeting. For him, the struggle continues, because you first need to obtain government support for the agreement, and then to push the necessary reforms in parliament. For this he has only three days.
In short briefing he said that serious measures to cut costs will be offset by a recovery plan for the Greek economy. Tsipras gave a press conference in the hall, as did speak to him and refused to answer journalists' questions.
Greek Prime Minister defended the agreement, recognizing that it requires difficult decisions and faces serious dilemmas. "However, it will help again to stand on its feet," added Tsipras.
French President Francois Hollande said that the efforts of the Athens should continue. He also pointed out that "there is stability without development and no development without stability" for the eurozone.