Greece Receives First Tranche of Financial Help Package from EU

Greece receives first tranche of financial help

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This is from the Russian newspaper Pravda:

The first tranche of the agreed financial assistance to Greece has been assigned, said the EU Commissioner for Economy and Monetary Policy Olli Rehn.

In his words, Greece’s partners in the euro zone have wired 14.5 billion euros, and an additional 5,5 billion euros from the International Monetary Fund, to Greece.

On May 2,  at an extraordinary meeting in Brussels, the finance ministers of 16 EU countries adopted a package of financial assistance from the EU and the IMF to Greece  in the amount of 110 billion euros. Eighty billion of which to be assumed by the European Union, including 22 billion from Germany, which is the euro zone’s largest economy. Borrowing agreements with member countries of the euro zone will be bilateral in nature and will be issued under a preferential 5 percent.

Following the meeting of finance ministers from 16 countries of the euro zone, chairman of the EU Group, Luxembourg Prime Minister Jean-Claude Juncker told reporters that the meeting participants had unanimously agreed that the Greek government was following the right path.

Source: Pravda

and this is from the Turkish newspaper Sabah (updated for translation errors, my Turkish: bad!):

Since Papandreou came to power in Greece in October, the government has scored its first scandal. Greek Tourism Minister Angela Gerekou, who is the wife of Tolis Voskopuolus, a singer, who is being accused of evading 5 million euros in taxes, has resigned over the allegation. A former actor, Gerekou’s resignation was accepted by Prime Minister George Papandreou. In the attempt to get out of the debt crisis the fight against tax evasion and corruption had been among the priorities of the Greek government. This tax scandal hits the government’s credibility.

Source: Sabah


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