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The European Investment Bank injects 550 million euro into the Greek economy

11 November 2013 / 23:11:29  GRReporter
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The Minister requested further cooperation within the context of the new programming period 2014 - 2020 and called for new financial instruments that do not require excessive bureaucracy and provide ways of administration for countries with problems like Greece. "We are preparing the establishment of a Greek investment fund, which will operate under the criteria of the private economy and the control of managers with international experience. We rely on the European Investment Bank to cover part of the funding, especially for small- and medium-sized enterprises as well as regarding the capital of the fund," said the Minister of Development.

Meanwhile, the talks between the Greek government and the lenders’ representatives have stalled again. The supervisory Troika has postponed its meeting with the Minister of Administrative Reform, Kyriakos Mitsotakis, for an indefinite period. According to sources, no progress has been achieved in relation to the way in which the hole in the state budget for 2014 will be filled. On Tuesday, the members of the Troika will meet twice with the Minister of Finance, Yiannis Stournaras, and will then leave for the meeting of finance ministers of the euro area member states in Brussels on Thursday. So far, it is not clear whether the three will return to Athens to continue the negotiations.

Tags: EconomyCompaniesEuropean Investment BankFundingSmall and medium sized enterprisesYiannis StournarasSupervisory Troika
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