(European Economy. Occasional Papers. 61. May 2010.
Brussels. Internet only. 93pp. Tab. Graph. Ann. Bibliogr. Free.)
KC-AH-10-061-EN-C ISBN: 978-92-79-15074-6 ISSN: 1725-3195
This publication is available in Greek: Το Πρόγραμμα Οικονομικής Προσαρμογής για την Ελλάδα
A joint EC/IMF/ECB mission visited Athens from 21 April to 3 May 2010 following a request for international financial assistance from Greece.
On 2 May the mission concluded a staff level agreement for a joint euro area / IMF financing package of EUR 110 billion and supporting economic policies. On the same day the Eurogroup agreed to activate stability support to Greece via bilateral loans centrally pooled by the European Commission. On 9 May the IMF executive board approved a Stand-By Arrangement. On 18 May 2010, the euro area Member States disbursed their first instalment of EUR 14.5 bn of a pooled loan to Greece, following a disbursement of EUR 5.5 bn from the IMF.
This report by European Commission staff provides an overview of the
challenges faced by Greece, discussions with the authorities, and the
objectives and design of the economic and financial programme.
This document contains as