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Greece wants details on eurozone aid plan: spokesman

16 March 2010, 17:46 CET
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(ATHENS) - Greece wants its eurozone partners to provide more details of a potential aid plan for Athens during a European Union summit later this month, a Greek government spokesman said on Tuesday.

Spokesman George Petalotis welcomed a decision taken by eurozone finance ministers on Monday to provide emergency loans -- if needed -- to Greece to help it avoid bankruptcy.

But he said there was now a need for greater precision on what the scheme entails, which he added could emerge during a European summit March 25 and 26.

"We are waiting to see how the European Union action will evolve ... We hope that other EU countries will do their duty and implement the principle of solidarity."

Greek and eurozone officials are hoping that such an expression of support will help Greece borrow funds on the bond market at rates comparable to those paid by its partners.

Greece, heavily indebted and having seen its credit ratings downgraded, has had to pay more than 6.0 percent to attract investors to two bond issues since January.

That rate is several points higher than that paid by Germany on its benchmark 10-year Bund.

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