–Report casts doubt on idea that Eurozone would provide lion’s share

BERLIN (MNI) – The IMF would have to contribute up to E12 billion
in potential emergency aid for Greece under the terms of last week’s
accord by Eurozone heads of state and government, German weekly Der
Spiegel reported over the weekend.

The Eurozone states would have to finance the remaining share of
the aid package, the full amount of which is estimated by the magazine
at up to E25 billion.

If true, these figures mean the IMF would put up nearly one half of
the financing, rather than the one-third share that made the rounds last
week after the agreement was announced. This would make it less clear
than previously reported that the Eurozone was really taking the lead in
the arrangement.

The Eurozone leaders in their statement issued at the EU Council
meeting in Brussels last week said: “As part of a package involving
substantial International Monetary Fund financing and a majority of
European financing, Euro area member states are ready to contribute to
coordinated bilateral loans.”

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

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