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EU's Rehn: Greek Aid Plan Days Away

Author: Olli Rehn, Commissioner for Economic and Monetary Affairs, European Union
June 1, 2011

European Union Commissioner for Economic and Monetary Affairs Olli Rehn expects negotiations on a new Greek aid plan between the EU, IMF, and Greek government will conclude "in the coming days," ahead of the EU finance ministers' meeting scheduled for June 20.

"We are expecting that Greece will, in the coming days, present concrete measures in order to fill the fiscal gap of this year, 2011," said Rehn, "and to seriously launch its privatization program which aims at collecting altogether 50 billion euros in the coming four or five years. Once these necessary conditions are met we will, together with the IMF, reflect and start preparing the next steps for the medium term in order to ensure financial stability and continue with the economic reform in Greece."

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