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ECB's Trichet says Greek aid plan 'positive'

12 April 2010, 14:04 CET
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(FRANKFURT) - European Central Bank head Jean-Claude Trichet said on Monday that agreement among eurozone finance ministers on the outlines of a possible aid package to Greece was "positive."

"I consider the decision which was taken during the weekend... as positive," Trichet said on the sidelines of an event at the bank's headquarters in Frankfurt.

He added that the Greek government "has to implement measures that we already judged as convincing."

The euro surged on Monday after Greece's single currency partners agreed the technical details of a 30 billion euros (41 billion dollars) aid package to Greece available if Athens were unable to raise funds on the capital markets.

Greek media said the total amount including a contribution from the International Monetary Fund could reach 80 billion euros over three years. The interest rate was set at around five percent, well below current market rates.

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