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Juncker: Expects New Aid Package For Greece By End Of June

AACHEN, Germany (Dow Jones)--Greece is likely to receive a new financial aid package by the end of June, as long as it can demonstrate its ability to implement tough reforms and privatizations, eurogroup head Jean-Claude Juncker said Thursday.

"My personal feeling and knowledge is that Greece will have a new program," Juncker said on the sidelines of a prize ceremony in Aachen.
But the new program will only be "submitted under strong conditionality."

"That means that Greece will have to prove it will be able to meet its budgetary goals for 2011, Greece will have to [actually] implement a privatization program," as well as structural reforms, Juncker said.

The decision on more aid will be made after the report on Greeces progress is concluded by the International Monetary Fund, European Central Bank and European Commission, Juncker said.

That report "will come out in the coming days," he said.

Juncker said he will meet with Greek representatives tomorrow in Luxembourg, but denied reports that he has called a crisis meeting of euro-zone finance ministers for Monday.

Greeces aid program is likely to be agreed by the end of June assuming IMF involvement and under strong conditionality, he added.

-By Tom Fairless, Dow Jones Newswires, +49 69 29725 505,

(END) Dow Jones Newswires
June 02, 2011 07:50 ET (11:50 GMT)
Copyright (c) 2011 Dow Jones & Company, Inc.
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