Friday, June 17, 2011

The EU postponed the second rescue of Greece in July

The European Union (EU) decided in July to postpone approving the second rescue of Greece, although there is no risk of default in the Mediterranean country until then, said Wednesday the bloc's economy commissioner, Olli Rehn. To avoid bankruptcy, Greece needs to 17,000 million U.S. dollars, at the latest, mid-next month. That sum comes from the first bailout approved last year for Greece assigned by the EU and the International Monetary Fund (IMF).

Papandreou reiterated that in the coming hours will present the outcome of the remodeling of his government and that next week will be submitted to a vote of confidence in parliament in the coming days.

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