BRUSSELS, April 11 Euro zone finance ministers
earmarked a total of 30 billion euros for emergency loans to
Greece in the first year, the chairman of euro zone finance
ministers Jean-Claude Juncker said.
In a rare weekend telephone conference, ministers from the
16 nations that share the single European currency backed a plan
for Greece to borrow from euro zone governments and the IMF at
below current market rates if market funding dries up.
"It will be 30 billion euro, this be coofinanced by the
IMF," Juncker told a news conference.
"The amount for the subsequent years will be decided at a
later date depending on how the financial situation in Greece
develops," he said.
Economic and Monetary Affairs Commissioner Olli Rehn added
that the International Monetary Fund contribution, which would
roughly follow the formula of two thirds euro zone and one third
IMF, would be on top of the 30 billion euros from the euro zone.
The IMF loans are also likely to be cheaper for Greece than
the euro zone ones, he said.
(Reporting by Jan Strupczewski and Marcin Grajewski)