The European Commission wants to resolve Greece’s financing with the old rescue fund – something a number of non-euro countries, including Sweden, sat received.
The European Commission proposes that Greece’s short-term financing should be solved with the old rescue fund EFSM.
Because of opposition from several EU countries outside the euro area, the Commission will multiply find methods that satisfy them.
It said European Commission Vice President for the EMU Valdis Dombrovskis during a press conference on Wednesday.
” To use the EFSM is not an easy choice. But in the end there were only two realistic options – bilateral loans or the EFSM. Since there was no prospect for bilateral loans, we propose the EFSM, “he said.
The decision must taken by all 28 EU countries combined, he said.
Sweden, the UK and other non-euro countries have opposed the EFSM is used with reference to an agreement reached in 2010.
“We hear these objections. We take them into account. We are working on providing security for the loan, or guarantee, “said Dombrovskis.
” On this basis, we believe that it is possible to reach an agreement, “he said.
One possibility is to use the ECB gains from support purchases of bonds as guarantees.
Contacts is now underway for the loan of EUR 7 billion, he said.
The bridging loan will run for three months and repaid when emergency loans from the third support program will start where the money comes from the euro countries permanent rescue fund ESM.
On Wednesday announced Dombrovskis also EU support of € 35 billion for agriculture, infrastructure investment and employment 2014-2020 .
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