French Senate approves Greek aid package

France to lend up to 16.8 billion euros ($22.54 billion) to Greece over the next three years

French Senate approves Greek aid package

 

The French Senate approved France's contribution to the European Union aid package for Greece as expected late on Thursday, opening the way for the funds to be released in the coming days.

The measure, part of the joint EU-International Monetary Fund support package, allows France to lend up to 16.8 billion euros ($22.54 billion) to Greece over the next three years, with 3.9 billion euros available in 2010.

The European Union and International Monetary Fund have offered Greece 110 billion euros spread over three years to help the country overcome its debt and deficit crisis.

The lower house of parliament, the National Assembly, had already approved the aid, which has the broad backing of both the ruling centre-right and the opposition Socialists.

Reuters

 

Last Mod: 07 Mayıs 2010, 15:31
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