Eurozone finance ministers 2013
Portugal and Ireland to be given more bailout repayment time
Portugal and Ireland to be given more bailout repayment time
The European Union and the IMF bailed out the Republic of
Ireland in 2010 and Portugal in 2011.
The 17-member group that uses the euro currency agreed to
the terms at a meeting of finance ministers in Dublin.
Meanwhile, the ministers also said a 10bn euro ($13bn;
£8.5bn) EU bailout loan for Cyprus was ready for approval by member states.
That could happen by the end of the month and, if the IMF
also gives the go-ahead, the first bailout money could be released by mid-May.
Cyprus crisis
While confirming that up to 10bn euros in loans will be
provided to Cyprus, the eurozone finance ministers also rejected reports that
the country might be granted more financial assistance.
Presidential spokesman Christos Stylianides said the country
was not looking for more money under the bailout programme,
but was hoping for
support through other European support mechanisms: "What the president of
the republic of Cyprus is discussing with European officials is the
possibility of increasing European funds for growth and social cohesion."
Cyprus will ask for the money under the EU's multi-annual
financial framework designed for member states suffering serious consequences
from the euro crisis.
No comments:
Post a Comment