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Greece requests 3-Year Program/Loan – Copy of Letter to ESM

Greece sent Wednesday morning a letter to European Stability Mechanism requesting a 3-year loan in order to “meet its financial obligations” and “ensure stability of the financial system.”

It is the 3. bailout Greece is going to receive since 2010 as austerity programs without provisions for growth have led to nowhere.

Greece ESM letter

Greece letter ESM2

Greece letter ESM3

Letter in PDF here

The Greek request has been confirmed by the ESM, the Euro Working Group is expected to deal with the request today.

According to some Greek media, the “loan” will be 51 billion euro.

ESM’s financial support program is only available in combination with “bailout reforms programs”. Greece is expected to send a list of new proposals to its EURO-pean partners by Thursday midnight or Friday morning. On Tuesday night, the EURO leaders threatened Greece with “Grexit”  if no solution is found by upcoming Sunday.

PM Alexis Tsipras said today, “we will send proposals for just and viable solution.”

Greecce’s Finance Ministry has been reportedly zealously working on a proposals list in close cooperation with the creditors.

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  1. Giaourti Giaourtaki

    The money for Greece – like the famous “35 billion” the EU gots in its funds – is desperately needed by Baltic and other communist states so they say no to Greece and most of the voters who want Greece out of the EMU are only hoping for cheap(er) beer holidays; so better get (the) Dollar(s)

  2. What the extremist left wing Mr Tsipras will present tomorrow, that didn’t want to present in 5 months? A Venezuelan plan?

    The No won, because the BIG LIAR, Mr Varoufakis, promised the NO vote would give them more strengh to negotiate (and they know that was a GIANT LIE) because they know that the other 18 governments had to respect their peoples voices and parlaments.

    So Greece and the rest of Europe begining by my country (Portugal) will suffer because of the craziness of a Chavist!

    • Total BS. Greeks voted NO to misery and austerity and gave a Huge example of courage and intelegence to all the people of Europe.
      Off course the minions of the Oligrachs, the opportunists, the cowards and the like are now in panic, because all their threaths might actually come true and some of them (like the portuguese traitor right wing in government and their lackeys) will be the first to suffer the consequences.
      Total solidarity with the strugle of the Greek people, that is the Strugle of all in Europe, from Portugal.

      • The (slightly) increased interest rate on Portuguese bonds (due to the escalated Greek crisis) is an immediate and direct loss for all Portuguese taxpayers. The hope will need to wait until the situation in Greece improves. So far, my perception is that life for the vast majority (maybe, all?) of the Greeks only got worse. That is, unless you think antagonizing the creditors brings satisfaction that makes up for all the extra suffering.

        • Giaourti Giaourtaki

          Unemployment rate gets stabilized successfully by more and more people escaping the country and the helpful minimum wage

          • Is it better to have higher minimum wage in the country, but no job?

          • Giaourti Giaourtaki

            That’s this nonsense again? Found in the “Church of the Bloodsuckers” or do you need desperately a 3rd luxury car, house or boat?
            In Greece even most business people want the old minimum wage back, it’s also better for getting taxes in. Only German “investors” whose only investment is the rent for their sales-room need slave-wages.

    • Giaourti Giaourtaki

      The majority of the people is close to 40% non-voters, most of them lost any illusion about perfect crime democracy and are too humanistic to take over or just afraid of prison

    • Dont’ be a liar.
      Let’s get it straight: your gov. sucks!

      • I do marvel at the sheer intellectual power of these economic arguments of the pro-austerity lobby. They don’t seem to grasp the fact that just about every Nobel laureate in economics has condemned the vicious and stupid policies that Merkel is foisting onto Europe.

  3. What Greece is spreading in Portugal is a wave of hope.

    • Giaourti Giaourtaki

      Adequate measures for resistance against the next bankers coup d’etat after your elections?