No gap in Greece aid until end of 2014: EU Commission

BRUSSELS: There is no shortfall in Greece's financial aid for the next 12 months and the gap foreseen at the end of 2014 is small, the European Commission said on Wednesday.

"The programme for Greece is fully funded for the coming 12 months, so there is no financing gap for the coming 12 months," Commission spokesman Simon O'Connor told a briefing, responding to media reports of a 10 billion euro ($13 billion) gap.

"Beyond on that, the existence of a relatively small financing gap in the final months of the EFSF-funded programme ... is not new. The existence of a relatively small gap has been known."

That gap is around 4.6 billion euros, but an updated estimate is expected in the coming weeks, O'Connor said.