Greece is guaranteed assistance of 45 billion euros

Spain to send Greece financial aid amounting to 3.675 billion euros in the framework of the Eurogroup agreed support measures. About this today reported Spanish media. They refer to the Secretary of State of Spain for the EU Diego Lopez Garrido. We recall that on Sunday, Eurogroup, comprising the finance ministers of 16 countries in the euro zone, has taken a detailed, clear decision on the amount and terms of loans in Greece, if the country fails to deal effectively with foreign markets. The EU has agreed to provide EUR 30 billion at 5% per annum. The program assistance will also participate the International Monetary Fund (IMF), which agreed to give Greece an additional 15 billion euros. According to Garrido, Spain will provide even greater than previously assumed. As the official said, the deal not only support the euro, but will profit, as the percentage is large enough for Europe. We note that Spain is itself in dire financial straits. If Greece announces sovereign default and can not pay its foreign debts, it will hit, including the Spanish economy. According to media reports, the share of Belgium in the overall package of financial assistance to the euro zone may be about one billion euros. According to them, this amount, calculated on the basis of the share of budget funding Belgium European Central Bank at a rate of 3,6%, confirmed the country's finance minister Didier Reinders. Greek authorities are hoping to the end of this year to take about 32 billion euros to refinance its more than 300-billion-dollar debt. Also borrowed funds will be used to address the budget deficit, which by the end of last year reached 12.7% of GDP. Athens actively cutting costs, trying to boost tax revenue. These reforms are a strong protest from the population. Authorities are trying to the end of the year to reduce the budget deficit to 8,7% of GDP. Meanwhile, Finance Minister of Greece Giorgos Papaconstantinou said that his country has not yet requested a loan from the partners of the euro area. Maybe Greece can do without this mechanism, the minister expects. And the country will borrow the necessary funds in global markets.