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All eurozone members approve new Greek bailout
BC, Riga, 20.08.2015.
Print version
Print versionAll eurozone member states approved on August 19th a new bailout program for Greece, as European Commission Vice President and Commissioner for the Euro and Social Dialogue Valdis Dombrovskis (Unity) told LETA.
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The formal procedure has been closed, and Dombrovskis signed Wednesday a memorandum of understanding on the Greek bailout.
Dombrovskis said that the first bailout tranche totaling EUR 26 billion would be provided to the Greek government, including for repayment of Greece's loans. A further EUR 10 billion will be set aside for the Greek banking sector, but the distribution of these funds will be decided after an assessment of the banks' assets.
Greece's new bailout is EUR 86 billion in total.
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