Agreement on Greece Important for the Euro, Says Merkel
June 28th, 2011
German Chancellor Angela Merkel praised the agreement reached by European leaders to release the new emergency aid for Greece, provided that the Greek parliament approves this week, the adjustment and privatization plan agreed with the EU and the International Monetary Fund (IMF), saying it is “important for the stabilisation of the euro.”
“We’re learning the right lessons from the crisis and the meeting was very pleasant and very good,” said the Chancellor to reporters on her arrival at the second day of meetings of the Heads of State and Government of the EU in Brussels.
Merkel has described as an “important political agreement for the stabilisation of the euro” that the euro zone undertook to pay emergency aid to Greece this summer of 12,000 million euros to avoid its bankruptcy, and to start work on a second rescue package of around 100,000 million euros, provided the Greek parliament approve the necessary reforms.
The Chancellor stressed that Thursday’s decision shows that the EU will do “everything necessary to preserve the stability of the euro as a whole” and it will encourage Ireland and Portugal “to implement their programs seriously.”
“It was a good sign that Greece yesterday reached an agreement with the Commission, the ECB and the IMF, i.e. with the troika, on their contribution, and it was agreed that there will be a new program for Greece, subject to the Greek Parliament’s approval next week (of the plan of adjustments) and on the contributions coming from voluntary private sources, as well as public contributions,” said sources through Europa Press.
Related Posts
- Euro Zone Ministers Under Fire Over Social Cuts
- Greece Seeks Support for Common Euro Bond
- IMF: Spain Not in Same Boat as Greece
