Monday, July 4, 2011

Money to Greece: released 12 billion

The euro finance ministers announced on Saturday released a new billion dollar loan to the crisis-ridden country. This was announced by the euro group in a statement. From the utility of the EU and the International Monetary Fund (IMF), a total of € 12 billion to flow.

€ 8.7 billion accounted for by the Europeans, € 3.3 billion to the IMF. Without the money, Athens would be insolvent.

The rescue plan of the euro countries and the IMF has been running since last year. The Ministers negotiated in a conference call. On a new aid package to Greece, the extent of one could have up to 120 billion euros, will be decided at a later date. The scope and conditions for the involvement of banks and insurance companies in the new package should be specified in the "coming weeks", it said in the statement of the Euro group.

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