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Saturday, July 02, 2011

Greece Update: Loan Approved

by Calculated Risk on 7/02/2011 05:18:00 PM

From the WSJ: Euro-Zone Ministers Release Greek Aid

The [euro-zone finance] signed off their portion of the €12 billion ($17.39 billion) loan tranche in an evening conference call. The International Monetary Fund is expected to approve its part of the loan next week.
From Bloomberg on the next aid package: Euro Area Backs Greek Payment, Shifts Focus to New Bailout
“The precise modalities and scale of private-sector involvement and additional funding from official sources will be determined in the coming weeks.” [the 17 euro-area finance chiefs said in an e-mailed statement today]
The next key dates aren't clear yet, but this €12 billion tranche will not last long. Greece will be back in the news very quickly.

Earlier:
Summary for Week Ending July 1st
Unofficial Problem Bank list at 1,003 Institutions and State Stress Level