Eurozone finance ministers supported the plan to provide the financial support for Greece to help the nation to exit its bailout at the end of the year, Eurogroup President Jeroen Dijsselbloem said at the press conference following the Eurogroup meeting on Thursday.
"Taking into account the still fragile market sentiment and the many reform challenges that still lie ahead, there is a strong support for a precautionary credit line in a form of an existing ESM tool called ECCL (Enhanced Conditions Credit Line)," Dijsselbloem said.
"While the technical details would still need to be worked out, I think it is crucial that the current 5th review is concluded," he told reporters.
Economics and Monetary Affairs Commissioner, Pierre Moscovici said the decision will be taken at the Eurogroup meeting on December 8.
At the meeting, there was a broad understanding that the International Monetary Fund should continue being involved and further discussion will have to take place on the exact form of its involvement, Dijsselbloem said.
For comments and feedback: editorial@rttnews.com