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Greek Gov Pledges To Ensure Financing Of United Textiles

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A happy end to the adventure of the restructuring of Lanaras group is seen in the distance. A meeting is being held today , with the participation of all the parties involved. Sources said that the Greek government pledges to ensure the financing of United Textiles with 30 million euro.

 

The same sources say that the final decisions will be taken at a new meeting between Finance Minister Alogoskoufis, the chairman of the confederation of Greek trade unions Mr Panagopoulos, the employees and management of the ailing company.

 

What remains to be seen is whether the government will guarantee fresh loans for United Textiles and if the banks involved will have a shares of this guarantee. All this has to conform with EU legislation.

 

The same sources say that the issue will be resolved next Tuesday and that the loans payment will start on Wednesday.

 

Stelios Kraloglou

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