Voices from Russia

Friday, 10 February 2012

Euro Zone Postpones Greece Bailout


Euro Zone finance ministers postponed the signing of a bailout deal for Greece pending the implementation of certain conditions on the part of Athens. Jean-Claude Juncker, the chairman of a meeting of Euro Zone Finance Ministers, said that Greece would have to meet additional conditions to qualify for the bailout package. Firstly, the Greek parliament would have to approve a package of measures endorsed by the Euro Zone Finance Ministers earlier during their session on Sunday. Secondly, Athens would have to work out a specific plan for saving 325 million Euros (12.9 billion Roubles. 432 million USD. 273 million UK Pounds). Thirdly, political leaders would have to provide guarantees that they are following the plan. Should Greece meet all the conditions, the next meeting of Euro Zone Finance Ministers slated for 15 February would approve a 130 billion Euro (5.16 trillion Roubles. 173 billion USD. 110 billion UK Pounds) bailout.

10 February 2012

Voice of Russia World Service



Blog at WordPress.com.