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Greece Has Accepted Escrow Account In Return For Aid
Greece's government has agreed to pay part of its revenue into an escrow account that would be used only for servicing debt, in return for receiving billions of euros in new aid, German newspaper Sueddeutsche Zeitung reports Saturday, citing people close to the matter. Greek finance minister Evangelos Venizelos agreed to Germany's demand that some state revenue be paid into a blocked account during the most recent telephone conference of euro-zone finance ministers, the newspaper reports. The money in the account will be used only for interest and debt payments on Greece's new loans, and nothing else, the newspaper ... (full story)
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