Indirect Help for Greece is possible - Polish Finance Minister Rostowski says
Sunday, 07 March 2010 22:41
Polish Finance Minister Jan Vincent Rostowski said that his country will not help highly indebted Greece bi-laterally but there could be help through the International Monetary Fund, he told Radio ORLA.fm during a Polish language press conference at the Polish Embassy in London on Friday.
"Countries within the euro zone have clearly stated that this problem they will resolve themselves. The Greek Prime Minister said yesterday (Thursday) that if Greece cannot resolve this with the European Union, he will turn for help to the IMF. Poland agreed to support this (IMF) fund. Hence, if Greece does request the help of the IMF Poland will indirectly support Greece. However, there is a relatively small probability that Poland's quota at the IMF will be able to provide much help (to Greece). We furthermore believe that to combat the credit crisis it demands international solidarity and cooperation at the highest level. Poland has already shown that solidarity helping Iceland, Latvia and Moldova," he said.
Poland has declared additional participation in the IMF to the value of US$4 million. Regulations of the IMF and EU will result in an increase in the Fund (via bi-lateral credits, among other ways). EU countries can increase the IMF's fund to US$175 million. Poland is currently negotiating its IMF agreement, and a final agreement has yet to be reached.