Terms of EU Support for Greece
The euro has strengthened significantly over the past 24 hours as EU officials finalize a prescription for Greece. Here are the details:
1) bilateral loans from European governments for 3 years
2) up to €30bn lending by euro area members states for the first year, in addition to the IMF’s contribution (€12.5 to 15bn reportedly)
3) lending rates near 5% calculated as 3-month euribor plus 300bp spread with further 100bp for more than 3 years and plus 50bp for operational cost
4) IMF loans priced according to their formula (currently 3.25% for a loan of 10x quota)
The package is larger than the market had anticipated and the rate is much lower than market rates.
« Forex Trading Tips: How NOT To Learn From Your Mistakes | Home | Coming to Singapore! »
September 3, 2011 • by: Boris Schlossberg
VIDEO TOURS
Come join us on detailed tour of our website
Watch high probability day trading in action
see our
Channel
February 9, 2012
by: Kathy Lien • Kathy Lien, ecb rate cut, ecb rate hike
February 8, 2012
by: Kathy Lien • Bank of England, BoE rate cut, ECB, Kathy Lien, ecb rate cut, ecb rate hike
February 6, 2012
by: Kathy Lien • Kathy Lien, Uncategorized, forex volume
February 3, 2012
by: Boris Schlossberg • Boris Schlossberg
February 3, 2012 • by: Boris Schlossberg
January 26, 2012 • by: Boris Schlossberg
January 20, 2012 • by: Boris Schlossberg
January 13, 2012 • by: Boris Schlossberg
January 6, 2012 • by: Boris Schlossberg
February 9, 2012 • by: Kathy Lien
February 8, 2012 • by: Kathy Lien
February 6, 2012 • by: Kathy Lien
January 31, 2012 • by: Kathy Lien
January 19, 2012 • by: Kathy Lien
Leave a Comment