Creditor banks to offer 30-mln-euro loan to Lanaras Group

Creditor banks to offer 30-mln-euro loan to Lanaras Group

A group of banks will handout a loan of 30 million euros to Lanaras Group next week, a meeting between Economy and Finance Minister George Alogoskoufis, representatives from creditor banks, enterprises and GSEE's president G. Panago-poulos, agreed on Thursday.
The meeting discussed ways of finding a legal formula allowing the funding of Lanaras company and to overcoming hurdles set by the European Commisison. The meeting also agreed that a new meeting, between interested parties, will be held next Tuesday to finalize details of the formula.

An earlier rescue plan envisaged the funding of Lanaras Group with 30 million euros by a group of banks with the guarantee of the Greek state. The European Commission said the Greek state cannot guarantee any loan to private enterprises.