Tuesday, May 18, 2010

Greece Finance Ministry Confirms Has Received 1st Aid Tranche

The banksters can breathe easy.

Greece confirmed Tuesday that it has received its first tranche of aid from fellow Eurozone states, totaling E14.5 billion.

The payment was received from the European Commission through the European Central Bank.

In an e-mailed statement, the Ministry of Finance said: “Today’s release together with the amount of E5.5 billion disbursed on May 12 by the International Monetary Fund covers the first tranche of E20 billion
in the support mechanism totaling E110 billion for Greece agreed with Eurozone and the IMF under the three-year economic and financial policy program.”

“These disbursements cover the immediate and short-term financing needs of the Hellenic Republic”, added the press release.

The E110 billion program is separate from the E750 billion package
agreed on May 9 by the Eurozone, EU and IMF.

The Eurozone aid included in the first tranche breaks down as
follows, the Greek Finance Ministry said:
Eurozone country Amount (in Euros)
Germany              4,427,870,552.22
France                 3,325,164,236.57
Italy                     2,921,922,720.93
Spain                   1,941,619,822.00
The Netherlands      932,510,618.54
Austria                    454,003,276.67
Portugal                  409,274,004.99
Luxembourg              40,847,902.58
Cyprus                     32,009,604.25
Malta                       14,777,260.69
TOTAL             14,500,000,000.00


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