国际英语新闻：Eurozone partners pledge 30 billion euros on Greek rescue package

EU Economic and Monetary Affairs Commissioner Olli Rehn told the same press conference that the eurozone loans would carry a fixed interest rate of about five percent for three years, well below current market rates of over seven percent.

EU leaders agreed on a rough standby plan to bail out Greece at their summit two weeks ago, under which eurozone countries would work together with the International Monetary Fund (IMF) to provide emergency loans to Greece when necessary.

However, the plan lacked details, which contributed to increasing market tension over the Greek debt crisis in the past week. The risk premium that investors charge to hold Greek debt rather than benchmark 10-year German bonds hit a record 454 basis points on Thursday, invoking suspicion that Athens may be forced to ask for financial support very soon.

Rehn said the commission, in liaison with the ECB, would start working on Monday with the IMF and the Greek government on the joint bailout program, including amounts and conditionality.

European Commissioner for Economic and Monetary Affairs Olli Rehn addresses the media at the European Commission headquarters in Brussels, Sunday April 11, 2010.

Rehn suggested eurozone countries would pay for two-thirds of the total support to Greece, leaving the IMF responsible for the one-third, but he said the IMF loans may be at a more preferential interest rate.

With a majority of Germans against aid for Greece, Berlin has insisted any interest rates on the loans should be non- concessional, i.e. not contain any subsidy element.

"If the mechanism had to be activated, it would not be a violation of the no-bailout clause (in the EU treaty) since the loans are repayable and contain no element of subsidy," Juncker said.

Meanwhile Juncker stressed that Greece has not called for an activation of the bailout package, adding it remains the right of Athens to ask for support.

He said data provided by the Greek government showed encouraging progress in its fiscal consolidation efforts and Athens was on track to reach this year's target of cutting its deficit to 8.7 percent of gross domestic product.