Vladimír Urbánek (Kurzy.cz)
Finance  |  June 20, 2011 12:09:41

Billions for Greece, the eurozone has not release


Eurozone Greece has not another billion from the rescue package. At night, on nearly seven-hour meeting after the finance ministers agreed on the block. Greeks need money to avoid bankruptcy in the summer. The condition to release 12 billion euros is the approval of other unpopular cuts. The euro area at the same time agreed that indebted Greece will have to get a new bailout package. Engage in it should be on a voluntary basis and the private sector.

"We must wait for final approval of the program (savings and reforms), in which Greece agreed with European partners," said chief eurozone Jean-Claude Juncker in Luxembourg.

In Greece, causing sharp cuts protests and led a change in government. The new cabinet would be decided in the coming days, the unpopular cuts to save almost three additional tens of billions in state spending at the end of the month.

Full article can be found on the server Financninoviny.cz, specifically HERE

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