by Calculated Risk on 7/02/2011 05:18:00 PM
Saturday, July 02, 2011
Greece Update: Loan Approved
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