Deal on Greece rescue imminent

11:22, 30 April 2010

BRUSSELS. April 30. KAZINFORM A deal on a multi-billion-euro rescue package for debt-hit Greece appeared imminent on Thursday as the Greek debt crisis is showing contagion risk to the whole euro zone; Kazinform refers to Xinhua.

In a short statement released Thursday, European Commission President Jose Manuel Barroso said negotiations among the European Union (EU), the International Monetary Fund (IMF) and the Greek government on the joint rescue would be concluded in the coming days.

"The European Commission is making solid and rapid progress with the ECB (European Central Bank), the IMF and the Greek authorities to finalize the Greek adjustment program," he said. "The commission expects this work to be finalized in the coming days."

Barroso said all eurozone countries are also finalizing the procedures that will allow them to provide financial support to Greece as necessary.

Athens is facing a looming deadline to pay back 8.5 billion euros (11.3 billion U.S. dollars) of debt by May 19; Kazinform cites Xinhua.

See www.xinhuanet.com/english2010/ for full version

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