Greece Denies Report It Is Seeking New EU Aid Package

Greece on Tuesday denied a Dow Jones report that it expects a new aid package of nearly 60 billion euros ($85.71 billion) to deal with its debt crisis.


"Greece is not holding any discussion on any new aid package," a senior finance ministry official who requested anonymity told Reuters.

"Such reports about discussions on new aid are not true."

The Greek government could receive as much as 60 billion euros ($84 billion) in fresh financial aid to cover shortfalls up to 2013, Dow Jones reported Tuesday, and the package could be ready by June.

Greece needs to find around 27 billion euros next year and a further 32 billion in 2013 and is unlikely to be able to raise the money from private sources.

The country has been discussing an extension on the maturities and a reduction in the interest rates on its joint International Monetary Fund / European Union 110 billion euro rescue package signed just over a year ago.

These measures, as well as possible access to the European Financial Stability Facility, the EU’s bailout fund, were discussed last Friday in Luxembourg, according to Dow Jones, and further talks will happen next week in the Ecofin meeting of EU finance ministers.

European shares moved higher in early trading as rumors of a potential resolution to the long running debt crisis spread.