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Finland, Greece agree on bailout conditions

17. August 2011. | 18:22

Source: ANA, Athensnews/AP

Finland's Finance Ministry says the Nordic country has agreed with Greece on the terms of a bailout for Athens.

Finland's Finance Ministry says the Nordic country has agreed with Greece on the terms of a bailout for Athens.

The ministry says Greece will deposit into a Finnish state account a sum of money equivalent to Finland's share of a loan included in the eurozone's bailout package.

Finance Minister Jutta Urpilainen said Tuesday that details would be released later, after the arrangement has been approved by 17-nation eurozone.

Greece was saved from bankruptcy last year by a €110 billion package of rescue loans from European partners and the International Monetary Fund, and has since been granted a second bailout.

FinMin on agreement with Finland regarding 2nd support package

Government Vice President and Finance Minister Evangelos Venizelos clarified on Tuesday statements regarding Finland's participation in a second support package for Greece, noting that "Greece and Finland agreed, within the framework of a decision of the Eurozone Summit of July 21, to a financing scheme that allows the government and the parliament of Finland to decide over the participation of their country in the new aid package to Greece, through the EFSF."

He added that "the financing scheme that has been agreed to between the two countries will be submitted for ratification to the Eurogroup's representatives of ministers."


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15. August - 21. August 2011.