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In execution of the recently voted law in the Greek Parliament (4046/2012) which approved with a wide majority the new support programme for the Greek economy, Deputy Prime Minister and Finance Minister of Greece, Evangelos Venizelos signed today in Brussels the memorandum of cooperation for the new with the European Commission Vice President Olli Rehn. The memorandum is co-signed by the Governor of the Bank of Greece George Provopoulos. Attached to the memorandum are the letters of commitment by the Presidents of PASOK and Nea Dimokratia political parties, addressed to the President of Eurogroup.
Mr. Venizelos also signed today, the five critical agreements with the head of EFSF Mr. Klaus Regling:
- The agreement for the recapitalization of the Greek banks
- The agreement for the guarantees provided by EFSF to the European Central Bank and the Eurosystem for providing liquidity to the Greek banks during the implementation of the PSI
- The agreement for the 30 billion euro with which the bond swap by the official sector is financed (sweetener)
- The agreement for EFSF covering the accrued interest of the Greek state until now
- The agreement for the co-financing framework between the official and the private sectors, which constitutes one of the crucial structural characteristics of the PSI.
Those agreements were co-signed by the Governor of the Bank of Greece Mr. George Provopoulos while the first agreement was also co-signed by the Chairman of the FSF, Mr. P. Thomopoulos.
The signing of those agreements is about specializing, implementing and making official the Eurogroup decisions of February 21 and it conveys a message to the private sector, to the markets and the international community that the official sector supports Greece in all respects and that it believes in the implementation of the October 26, 2011 and February 21, 2012 decisions.
