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
The Commission aims to compensate producers who decide to not harvest some of their goods or give products away for free.
The Energy Minister thanked “our friendly country, Armenia” and his Armenian counterpart “for providing a huge assistance”.
"There have been no new talks on gas exports to Europe, but there are routes and facilities which we need to use," Majedi said.
"We are particularly pleased by a 15 percent rise in lending to small and medium-sized businesses,” the bank’s financial director said.
Partner news