Aid programme for Greece concluded

Good example of European solidarity

The last of the aid programmes for Greece will be finishing on 20 August 2018. Over eight years after it started, the German Bundestag has now agreed to end the aid. As a conclusion, the country will receive one final credit tranche of €15 billion as a liquidity buffer.

"This is a great piece of European solidarity in our own interest," said Federal Chancellor Angela Merkel in her most recent government statement. The Euro is stable at the moment, and Greece has become more competitive.

Greece should continue to receive support on its way towards complete financing with its own resources. The key points set by the Eurogroup in 2016 will continue to form the framework for this.

In the future, there will be no additional interest on the debt buy-back from loans from the European Financial Stability Facility (EFSF).

On top of this, the durations of EFSF loans will be extended, interest will be deferred and payments postponed. Central Bank profits from Greek government loans will go back to Greece. The payment made to the European Stability Mechanism (ESM) in 2014 from the federal budget will be forwarded on to Greece.

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