2nd Greek bailout formally approved by EU countries

2nd Greek bailout formally approved by EU countries

PanARMENIAN.Net - A top European official says the countries that use the euro have formally approved a second bailout for Greece, as they had signaled since last week, and authorized the release of euro39.4 billion ($51.44 billion), AP reported.

Jean-Claude Juncker, prime minister of Luxembourg and chairman of meetings of eurozone finance ministers, says the European Financial Stability Facility - or EFSF - will disburse the money in several installments.

The March 14 decision was a formality, as Greece had already been found to have met all the conditions for the new aid program.

Juncker said the bailout "constitutes a unique opportunity for Greece that should not be missed," and urged continued reform. "This will allow the Greek economy to return to a sustainable path," he said.

 Top stories
Since 2010 the EBRD, EIB and EU have contributed a total of €30 million for the improvements carried out in two phases.
NCFA said its participation in this major exhibition aims to promote Armenia’s tourism opportunities at the European markets.
Sixty-five percent of female billionaires are married, 10 percent divorced, 4 percent single and 21 percent widowed.
“A 10% credit portfolio upsurge was registered in the first 7 months of 2014, with the bank planning to bring the figure to $550M,” Sahakyan said.
Partner news