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The plan of the second rescue package for Greece is getting clear after the proposal for a loan of 80 to 100 billion euros for three years, which will be ready within the next two weeks, sources from the euro zone told Reuters.

The idea is 25-30 billion euros to be gained from privatization, 30 billion euros - from the replacement of maturing Greek bonds with new ones and 30 - 40 billion euros to be provided by the International Monetary Fund and the European Financial Stability Facility.

However, unclear remain some principal points of the plan, such as the way through which private investors would be convinced to take part of the debt having in mind that the time of the crucial meetings, which will be held in late June, is coming.

The finance ministers of the member states of the European Union will hold an informal meeting on the 14^th of June to agree on the final form of the stricter financial regulations for the Eurozone and the EU. The French Minister of Finance Christine Lagarde said that there is still disagreement on the amount of the additional economic support to Greece and that it would not provide for debt restructuring.

According to Reuters, the Minister of Finance of Slovakia Ivan Miklos stated that his country would not approve new package of support to Greece unless it is not guaranteed that private investors would take some responsibility. Meanwhile, an article in the German newspaper Suddeutsche Zeitung claimed that the Eurozone is considering the option of turning the proceeds from the sale of state property into bonds.

This would happen in the following way: The agency for state property utilization which will be established will determine which properties will be sold and will issue bonds to be purchased by investors. They, in turn, will receive their funds immediately after the sale of the properties. Wall Street Journal also writes for the privatization in Greece, indicating that the Greek government property is sold at very promotional prices and German companies are buying cheap. According to other publications, tourism is a major source of revenue for the Greek government.

At the same time, German banks are refusing to voluntarily participate in the new support package for Greece and rating agencies are threatening that if European banks are forced to participate, their assessment would be that the country is insolvent. According to the German economic edition Handelsblatt, which refers to a European statesman, the decision to renew the support of Greece could be delayed until the autumn because of the existing problems. The most important of them is the reticence of the German banks to participate in the support package through the exchange of the maturing Greek government bonds for new ones. They are refusing, at least for now, and great efforts should be made to convince them.

The banks’ position is strong due to the support of the credit rating agencies. Yesterday, the head of the debt group at Moody’s Barth Osterveld said in Paris that if the banks agree to participate voluntarily in the support package there would not be consequences, but doubted the possibility. He repeated that even the smallest sign of forcing financial institutions to take such participation would be perceived by the rating agencies as Greece’s failure and that it is too late to take such an initiative already.

Bart Osterveld said that the risk of bankruptcy threatens the economies of peripheral European countries to a greater or lesser extent. He stressed, however, that the total debt of these countries is worth 13.5% of the Eurozine economy. "The Governments and the European Central Bank have the resources and incentives to limit this crisis."

Meanwhile, the leader of the Liberal group in the European Parliament and former Prime Minister of Belgium Guy Ferhovstad criticized Europe's position on the Greek crisis. He rejected the current rescue plan for Greece and defined it as insufficient. He also declared himself against the option the country to leave the Eurozone, because this would place it in a weaker position and could even cause its end.

He predicted that private investors would eventually be invited to pay their share, either by accepting the extension of the payment term of the Greek bonds or by exchanging them with a smaller package of Eurobonds, which would guarantee larger profit for them.

European Commission President Jose Manuel Barroso did not support the restructuring of the Greek debt either.

Finding a quick solution of the Greek problem was one of the main topics of the meeting between Barack Obama and Angela Merkel. The U.S. President acknowledged that the situation in Europe is complex and that the Greek debt is large. However, he warned that if the situation gets out of control, the failure of any of the member states of the Eurozone would be disastrous for the global economy.

Barack Obama expressed his belief that the countries of the Eurozone would help Greece return to the path of development, and Germany has the key role in finding the solution. He said the USA would also make efforts to solve the problems of the Greek public debt in various ways, including through the International Monetary Fund. Angela Merkel also stressed the need of keeping the stability in the Eurozone in order not to damage the global economy.