EFSF gives the green light to the two-month extension of Greece’s bailout program | protothemanews.com

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EFSF gives the green light to the two-month extension of Greece’s bailout program

Author: newsroom | Published: December 20, 2014

This extension ensures that the funds will remain available for Greece, thus reassuring the markets.

Following a request from the Greek Finance Minister Gikas Hardouvelis, the board of the European Financial Stability Facility (EFSF) decided to give Greece the green light for a two-month extension of the country’s current bailout program.

Consequently, the EFSF programme will now end on February 28 2015, instead of December 31 2014, and Greece will be able to collect the remaining €1.8 billion until the end of February, provided that the last review of the current program is concluded successfully.

“The technical extension of the EFSF programme for two months allows Greece time to complete the current review with the troika,” said EFSF CEO Klaus Regling, adding that this extension ensures that the funds will remain available for Greece, thus reassuring the markets.

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