Chronologie der Krise

Wie aus einer Immobilienblase eine Weltwirtschaftskrise wurde…

Griechenland: 15 Mrd EUR Nothilfen für’s Bankensystem

Posted by hw71 - 3. Mai 2010


Wie im Artikel „Griechenland: “Abfluss privater Spareinlagen” bei griechischen Banken…“ schon beschrieben, stand es auch für das griechische Bankensystem letzte Woche nicht wirklich gut: laut nachfolgendem Artikel aus der Financial Times enthält das beschlossene Rettungspaket für Griechenland auch 15 Mrd. EUR Nothilfen für griechische Banken!

Gefunden bei ft.com (Hervorhebungen von mir hinzugefügt):

Athens accedes to austerity plan

By Kerin Hope in Athens

Published: May 3 2010 03:00 | Last updated: May 3 2010 03:00

Greece accepted yesterday a harsh three-year austerity programme in return for a multi-billion euro loan from the European Union and International Monetary Fund aimed at averting a sovereign default.

The €30bn ($40bn, £25bn) package of spending cuts and tax increases will push the country deeper into recession, with the economy projected to shrink by at least 4 per cent this year and another 1 per cent in 2011.

The measures aim to reduce the budget deficit by five percentage points of gross domestic product this year and another four points in 2011.

A sombre George Papandreou, prime minister, told an emergency cabinet meeting: „Our priority is to avoid bankruptcy . . . That is a red line that cannot be crossed.“

The premier’s address to the cabinet, broadcast live on state television, highlighted the challenge his Socialist government faces to implement fiscal and structural reforms.

„We will have to endure greater sacrifices because of today’s decisions. The alternative would be catastrophe . . . but we are determined, and by the end of my term in office [in 2013] Greece will be reborn.“

George Papaconstantinou, the finance minister, announced details of the measures before flying to Brussels for an emergency meeting of eurozone finance ministers.

He said the budget deficit would fall below 3 per cent of GDP by 2014 – a year later than projected under Greece’s EU stability programme agreed in January. If the measures are fully implemented the public debt will be stabilised at about 140-150 per cent of GDP by 2013.

„This is a deflationary programme of unprecedented length and intensity on a global scale,“ said George Pagoulatos, a professor at the Athens University of Economics.

The main burden will fall on public sector workers, who face a three-year salary freeze, further cuts in allowances and the abolition of the 13th and 14th monthly salaries paid as holiday bonuses.

But private companies will have to pay a one-off tax on 2009 profits – on top of a similar levy six months ago on profits from the previous year.

To boost revenues, all three value added tax tiers will be raised for an overall increase of 10 percentage points – a measure aimed at offsetting shortfalls in collecting direct taxes.

The EU-IMF loan package will also include up to €15bn of support for Greece’s banking system, which has suffered a worsening liquidity squeeze as yields on the country’s debt soared on international financial markets, senior Greek bankers said.

The Greek government would also expand by €10bn an existing support package for the sector to bring the total amount of liquidity, capital injections and guarantees to €25bn, they said.

„The support of the IMF through this pillar of the package will be a key element in maintaining confidence in the bank sector,“ one banker said.

Mr Papaconstantinou said the reform package would be presented to the Greek parliament tomorrow for approval within three days under emergency rules.

The Socialist government has a comfortable majority in parliament and may also receive backing from opposition parties, although leftwing groups are committed to voting against the measures.

The size of the rescue package, which will include bilateral loans from eurozone countries, would be announced after the eurogroup meeting, Mr Papaconstantinou said.

Editorial Comment, Page 8 Wolfgang Münchau, Page 9 Lex, Page 14

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