It’s official! Juncker found the €35bn aid package and sends it to Greece tomorrow

Many got suspicious and reserved about the European Commission wonder package of €35 billion for Growth and Jobs in Greece. The “exceptional” package – as the EC loves to describe it – was first announced in June, as a pressure tool to Greek government to sign the agreement with the creditors. In the weeks and months that followed, the original package had to be modified because the box looked as empty as a hole. Then the Greek government signed all papers for the 3. bailout agreement and the EC president promised to finally fulfill his promises, prepare, send and deliver the damned package.

The press office of the European Commission started to issue one statement after the other announcing in extremely cheerful mood that the 35-billion-euro wonder package was coming… and coming …and coming…and coming… By October 14th, the package was still underway. Many Greeks thought that Juncker had lost the precious package, after all.

   

 After thorough digging, Juncker finally found the package 🙂

But now, I have good news for you! The European Commission announced today that the package will arrive tomorrow!

“A new start for Jobs and Growth for Greece: €35 billion plan well underway

The European Commission welcomes yesterday’s signature of the Jobs and Growth Plan for Greece by the European Parliament and by the Council. The exceptional measures presented by the Commission for Greece can thus enter into force tomorrow.

Greece is set to receive over €35 billion already earmarked from the EU budget over 2014-2020, with €20.6 billion from the European Structural and Investment Funds. €800 million will be paid next week. Overall, almost €1.4 billion will be released in 2015 and €1 billion in 2016; while these exceptional measures will also allow Greece to spend around €2 billion less from its national budget.

Vice-President for the Euro and Social Dialogue Valdis Dombrovskis said: “With the entry into force of the Commission’s proposals the EU funds can begin flowing to Greece, starting with a payment of €800 million next week. It is investment in the real economy, in people and companies in Greece. The Commission stands ready to give Greece all the technical assistance it needs to make the most of EU funds at this critical time.”

Corina Creţu, Commissioner for Regional Policy said: “I was in Greece last week to discuss the implementation of this package with Prime Minister Alexis Tsipras. These measures are a strong message of European solidarity. It is now up to our Greek partners to do their part and ensure the best use of EU funds on the ground.”

The Jobs and Growth Plan for Greece is intended to flank the comprehensive set of reforms agreed between the Greek Government, the Commission and international partners in the context of the new economic adjustment programme. The Commission also offers technical assistance and expertise to Greece through its new Structural Reform Support Service to ensure the swift activation of the funds and their best use to support recovery, and create foundations for sustainable growth. (European Commission)

OK, you may noticed that the EC press release reads “enter into force tomorrow” and in next paragraph “€800 million will be paid next week.” Don’t be a beans counter. In the well-known speed of the EC and the EU, yes, tomorrow can very well mean next week. Or next month or next year or next decade. Or even next century if we were not in just in the beginning of this one.

If you don’t hear the postman knocking on your door tomorrow, Friday, October 16th 2015, to deliver the package, please, contact Jean-Claude Juncker  or check with the automatic delivery tracking application. :p

PS I’m afraid that by the moment the Juncker package arrives, the postman will get write notice: “Return to Sender – Recipient Migrated – Address Unknown”.