Greek rescue package to total 100-120 billion euros: French minister

3rd May 2010, Comments 0 comments

A rescue package for debt-laden Greece is expected to total between 100 and 120 billion euros (133 and 160 billion dollars), French Finance Minister Christine Lagarde said Saturday.

Lagarde spoke following a meeting chaired by President Nicolas Sarkozy at the Elysee palace to discuss moves by eurozone countries and the IMF to cobble together the massive financial aid deal.

"The IMF and the European Commission have talked about a bracket of between 100 and 120 billion euros. The plan will probably be within that range," she said, adding that it would cover three years.

Ahead of the meeting, Sarkozy spoke with German Chancellor Angela Merkel and both leaders asserted that they were ready to spring into action with the loans once a deal on spending cuts had been agreed with Athens, a French statement said.

France will be the second largest contributor to the package after Germany.

© 2010 AFP

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