Greece can use bank rescue fund after EU bailout exit

Athens

GREECE can use the remaining 11.5 billion euros (S$18.6 billion) in its bank rescue fund as a precautionary credit line when it exits its EU/IMF bailout, the country's central bank chief told Greek newspaper Ta Nea on Wednesday.

Greece is in talks with EU institutions and the International Monetary Fund ahead of the expiry of its bailout package with the European Union on Dec 31. Athens wants to exit its bailout when eurozone funding stops, though the IMF is scheduled to stay through to early 2016. A precautionary credit line would serve as a cushion in the event that Athens encounters difficulties in funding itself from markets.