By Yali N’Diaye
WASHINGTON (MNI) – France could be ready May 10 to contribute its
financial share to the Greek rescue package should the parliament and
the Senate agree on the French portion of the proposed financial package
for Greece, France Finance Minister Christine Lagarde said Friday at the
conclusion of the meeting of the Group of 20 finance ministers and
central bankers.
The International Monetary Fund and the euro zone countries are
expected to rescue Greece through a E45 billion conditional financial
package, with France contributing E6.3 billion the first year with an
interest rate of 5%.
Overall, however, “There was hardly any discussion on Greece
today,” Lagarde said, simply because “there is work underway” and EU
Commissioner Olli Rhen only reported briefly to the G20 meeting.
In particular, he reported that negotiations are going on on the
ground between the EU Commission, the IMF and the Greek authorities “and
that he was certainly expecting acceleration and significant and
substantial work to be conducted in the next few hours and few days.”
“But other than that there was no additional discussion on Greece,”
as the implementation of the three-year plan is being rolled out, the
finance minister told a news conference.
Lagarde said the IMF’s expertise in the Greek situation is welcome
if it improves the overall outcome.
Asked about European Central Bank President Jean-Claude Trichet’s
initial opposition to the IMF’s intervention, Lagarde said it’s never
too late to change and “the IMF intervenes each time its skills are
necessary.” She said that is not a disgrace.
Since then, however, Trichet has played down its opposition.
The goal, Lagarde said, is to optimize the situation and make the
aid package more efficient.
** Market News International Washington Bureau: 202-371-2121 **
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