Greece may get bridge loan before activating aid – source

ATHENS, April 22 (BestGrowthStock) – Greece may get a short-term
bridge loan from European countries before an EU/IMF aid
mechanism is activated, a senior Greek government source said on
Thursday as the country’s borrowing costs hit fresh record
highs.

“There is a provision that there may be short-term loans
until the mechanism is activated. This is theoretical, there is
no decision or such need,” the government source told reporters.

The official said that Greece was maintaining its target to
cut its budget deficit to 8.7 percent of GDP this year after the
EU’s statistics office revised upwards the country’s 2009
deficit to at least 13.6 percent of GDP from 12.7 percent.
Stock Today

(Reporting by Harry Papachristou; Writing by Ingrid Melander)

Greece may get bridge loan before activating aid – source