Arab Today, arab today lithuania gives green light to greek bailout
Last Updated : GMT 14:48:54
Arab Today, arab today
Arab Today, arab today

Lithuania gives green light to Greek bailout

Arab Today, arab today

Arab Today, arab today Lithuania gives green light to Greek bailout

Greek PM Alexis Tsipras
Vilnius - XINHUA

Lithuanian government approved on Monday the Baltic country's support to Greek bailout package from the European Stability Mechanism (ESM).

According to the EU's agreement, Greece will receive up to 86 billion euros from the ESM in a three-year period, in exchange for harsh austerity terms.

Lithuanian approval was issued given that Athens had met the preconditions for the bailout and agreed a specific reform plan with creditor institutions, the government said in a press release.

Rimantas Sadzius, Lithuanian minister of finance, said after government's meeting that the decisions made by Greece on reforms showed that the troubled country was ready to adhere to long-term policy.

However, the EU and the euro area will need guarantees in order for Athens to get the full amount of bailout package, Sadzius added.

"It's difficult to tell anything about political developments in Greece in the future, in particular as there are talks about early elections," Sadzius was quoted as saying by BNS news agency.

Creditors would check Greece's compliance with commitments each time before transferring money, he added.

The minister insists that all the money will be provided to Greece from the European Stability Mechanism (ESM), thus none of the euro area member states will have to contribute additional funds or pay more to the ESM than they currently do.

Sadzius will present Lithuanian position at the meetings of ESM Board of Governors and the Board of Directors in Brussels on Wednesday.

The first part of assistance, 26 billion euros, should be transferred to Greece on 20 August.

Lithuania joined the euro zone on January 1, 2015. As the newest member of the monetary bloc, Lithuania this year started to contribute to ESM. The country's payment of paid-in capital to the ESM will be made in five annual installments of more than 65.4 million euros each.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lithuania gives green light to greek bailout Arab Today, arab today lithuania gives green light to greek bailout

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today lithuania gives green light to greek bailout Arab Today, arab today lithuania gives green light to greek bailout

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday