TNBiz (TNBiz)
Markets  |  June 21, 2012 13:20:11

The Finnish Parliament ratified the bailout fund ESM


HELSINKI (MEDIAFAX) - Finland's parliament on Thursday approved a European rescue fund, called the European Stability Mechanism (ESM), which has weakened the euro area countries to help deal with the continuing debt crisis. Informed the AFP.

In the 200-member Finnish parliament voted for the ratification of the ESM of 104 legislators, 71 were against.

And ratification by Finland agreed to provide about 11.14 billion euros in capital, if ESM becomes insolvent.

"The maximum commitment is approximately five percent of gross domestic product (GDP) of Finland," Finnish Parliament said in a statement.

ESM should enter into force on 1 July, the year should run parallel with the temporary rescue fund, called the European Financial Stability Fund (EFSF).

Tomáš Králíček, kralicek@mediafax.cz

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Finský parlament ratifikoval záchranný fond ESM

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