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Debt-creating `anti-debt` measures under review at EU summit
Date 19/10/2011 14:14  Author webmaster  Hits 920  Language Global
• 19 OCT 2011

AFP (Anti-debt measures under review at EU summit)

BRUSSELS — European leaders are looking at several measures they may announce this coming weekend as part of their efforts to end a nearly two-year-old sovereign debt crisis.

Here are the most eagerly anticipated on markets:

— FINANCIAL AID FOR GREECE

Following a green light given by international auditors last week, eurozone finance ministers should rubber-stamp the release of eight billion euros of loans from a first EU-IMF bailout of Greece last year.

Progress has been slow on a second bailout first announced in July, as auditors delayed loans under the Greek rescue after slippage in targets agreed last year as conditions for funding.

Another 109 billion euros in loans on top of last year's 110 billion euros was to be augmented by having investors roll over their Greek bonds, thus lowering immediate pressure to refinance the debt.

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