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
Prime Minister Hovik Abrahamyan ordered the heads of the agencies in charge to manage the technical part of the work as soon as possible.
The sides will sign the agreement on the construction of the power unit, once the preparatory work is over, the Energy Minister said.
4.2% increase in the economic activity index was mainly conditioned by this year’s positive dynamics in agriculture, an official said.
Head of Rosatom Sergey Kiriyenko and Armenia's Minister of Energy and Natural Resources Yervand Zakharyan signed the deal.
Partner news