€55 bn for a Greek bailout – but its still secret… 

(via EuroIntelligence)

The Austrian newspaper "Der Kurier" has quite detailed information leaked from the ongoing negotiations for a Greek bailout scenario. According to their sources, Germany and Paris agreed that Greece might need €55bn until the end of the year to prevent insolvency.  The German government would be ready to contribute €20bn, the French €10bn. Other member countries, except those that are themselves in trouble (Spain, Portugal and the UK), will have to contribute according to their shares in the ECB.

How the money will be provided is still open.

Germany prefers to provide half of its share through guarantees and the other half by purchases of Greek bonds through the KfW. Angela Merkel outlined the time frame, with the first intervention around Easter. The plan is strictly confidential (well except for the leaks), no written testimony, and coordinated with the German government and the ECB. (But we should not get too excited about this: Even if there is an agreement on a technical level, at a political level this is not yet a done deal).