Greece should get more time, aid: ECB member



AGENCE FRANCE PRESSE

Published — Sunday 11 November 2012

Last update 11 November 2012 4:40 am

| نسخة PDF Print News | A A

BRUSSELS: Debt-laden Greece should get more time and more aid if necessary to put its financial house in order and remain in the euro zone, a member of the European Central Bank said in an interview published yesterday.
"It is preferable that Greece remains in the euro zone," Jorg Asmussen, a German ECB board member, told the Belgian economic daily l'Echo.
"If that means additional aid for one or two years more, that will be significantly less expensive than it leaving (the euro zone) or a default," he was quoted as saying.
The comments come ahead of a meeting on Monday in Brussels of the euro zone finance ministers, who are due to discuss releasing the latest aid tranche of 31.5 billion euros to Greece, which has been held back since June.
The ministers are not expected to decide to release the aid at their meeting tomorrow.
The euro zone is waiting for the latest report on Greece's finances from its 'troika' of creditors — the European Union, the ECB and the International Monetary Fund.
"We are in the process of completing the analysis of the Greek adjustment program," Asmussen said.
Greece has asked for an extra two years to bring its debt under control and stabilize public finances.
In an interview with the Sunday edition of the Die Welt daily, German President Joachim Gauck said that many Germans think that providing aid to Greece "is costing too much and that we, the Germans, are going to ruin ourselves as a result."
"No, we will absolutely not ruin ourselves. Not as long as we keep the Greeks inside the euro," he said.
Separately, Germany's Der Spiegel weekly reported yesterday that the troika has demanded from Athens a list of names of the 2,000 civil servants to be fired before the end of the year.
"The troika is expecting that some 2,000 civil servants will be fired before the end of the year. And it is no longer content with figures. It also wants the surnames and the names" of those to be let go, the daily wrote on its website citing a source close to the negotiations.
This past week the Greek Parliament narrowly passed the latest austerity package in the face of popular anger at more belt-tightening in a country with soaring unemployment that is facing a sixth year of recession.
Today, lawmakers are due to vote on the 2013 budget, another key test for the embattled Greek government.

What's happening around Saudi Arabia

SYDNEY: Amnesty International has demanded that Mustafa Al-Hosawi, a Saudi prisoner at Guantanamo Bay in Cuba, be treated for the torture he underwent at the hands of the CIA.The US branch of the organization sent a message to health officials at the...
JEDDAH: The city’s airport staff saved a 20-year-old woman who tried to throw herself from the upper floor to the mezzanine floor in the southern hall. Sources said the suicide attempt was due to family disputes. Administrators said a supervisor in t...
RIYADH: Education Minister Ahmad Al-Issa has ordered to gradually close down private night schools beginning from the current year. The closure of these schools will be complete by 1439H.Al-Issa’s decision is based on reports of a body, which highlig...
RIYADH: A cross-section of Saudi society on Friday denounced the Jazan massacre that shook the nation on Thursday, when a gunman went on the rampage killing seven education officials and injuring several others in Al-Dair governorate.The culprit, ide...
JEDDAH: Maj. Gen. Awad Al-Balawi, head of the Saudi Border Guard, recently confirmed the expansion of the employment program for women within the border security sector. He said that the sector is entering a new phase as women will be employed in a n...
RIYADH: A medical team of the King Abdullah Specialist Children’s Hospital (KASCH) at the King Abdulaziz Medical City (National Guard) here have successfully conducted the first liver transplant on a baby boy. Fahad Mari Said Al-Sairdh, father of the...
JEDDAH: The Makkah Investigation and Prosecution Board reintroduced the crane crash incident to the Riyadh Investigation and Prosecution Board recently, adding 10 more employees and supervisors from different government agencies before the courts. Th...
JEDDAH: The teacher who gunned down seven education officials in Al-Dair governorate on Thursday had been showing behavioral problems in recent days, Al-Janob Misfer Al-Subhan, director of King Faisal Secondary School in Dharan, was quoted as saying...
JEDDAH: The Human Rights Commission (HRC) is investigating the Nakheel Mall case, in which a girl was beaten up by a group of Haia members, an official of the commission has said. “The HRC is supposed to guarantee the rights of those harmed, whoever...
AL-AHSA: King Faisal University (KFU) in Al-Ahsa is currently studying the possibility of admitting female students to specialize in veterinary medicine, the director of the university, Dr. Abdulaziz Al-Saati, confirmed. He said the matter has been p...
JEDDAH: A fingerprinting campaign, titled “Imprint Homeland,” against extremism and terrorism, was launched at the Jeddah corniche on Thursday night. The drive will cover all the 17 regions of Makkah province.The campaign, initiated by the Makkah gov...
RIYADH: The number of unemployed Saudi nationals reached 647,000 by the end of last year, of whom 56 percent, or 363,800, hold bachelor’s degrees or licenses. Female bachelor’s degree and license holders accounted for three-fourths of unemployed Saud...
RIYADH: Four citizens have been arrested in two murder cases, one of which was a road rage. One of the suspects resisted arrest and even opened fire on the police, but no one was injured.According to the Riyadh police, a clinic informed them that it...
MAKKAH: Thirty percent of male middle school students and 23 percent of female students take some form of drugs, a recent scientific study from the National Center for Youth Research confirmed. The study shows drug consumption rates among students in...
RIYADH: Several government departments participating in a campaign to fight breast cancer in the Eastern Province will offer their recommendations to the Ministry of the Interior to include breast cancer checks for women aged 40 and above as part of...

Stay Connected

Facebook