Eurozone agrees €110bn Greece loans

Eurozone finance ministers approved on the 2 May 2010 a €110bn package of emergency loans aimed at averting a sovereign default by Greece and preventing a confidence crisis spreading to countries such as Spain and Portugal.

The loans to Greece from the eurozone countries and the International Monetary Fund were described by IMF officials as 'big and unprecedented'. Eurozone countries are to contribute €80bn of the total.

European Commission: Press Release: IP/05/485: Statement of President Barroso on Greece http://europa.eu/rapid/pressReleasesAction.do?reference=IP/10/485&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Press Release: IP/05/484: Joint Statement on Greece by EU Commissioner Olli Rehn and IMF Managing Director Dominique Strauss-Kahn http://europa.eu/rapid/pressReleasesAction.do?reference=IP/10/484&format=HTML&aged=0&language=EN&guiLanguage=en

To Ethnos, 3.5.10: Greece is winding back the clock (via PressEurop) http://www.presseurop.eu/en/content/article/244041-greece-winding-back-clock

ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/

EurActiv, 3.5.10: Euro zone seals €110bn rescue plan for Greece http://www.euractiv.com/en/euro/euro-zone-seals-110-bn-rescue-plan-for-greece-news-493605

ESO: Background information: Greece agrees to €24bn of cutbacks http://www.europeansources.info/record/greece-agrees-to-e24bn-of-cutbacks/

BBC News, 2.5.10: Eurozone approves massive Greece bail-out http://news.bbc.co.uk/1/hi/business/8656649.stm

Deutsche Welle, 2.5.10: Eurozone agrees unprecedented multi-billion euro bailout for Greece http://www.dw-world.de/dw/article/0,,5530627,00.html

France24, 2.5.10: EU approves 110-billion-euro bailout package http://www.france24.com/en/20100502-eu-approves-greece-bailout-package-110-billion-euros-three-years-juncker

Spiegel Online International, 3.5.10: EU Agrees to Prop Up Greece http://www.spiegel.de/international/europe/0,1518,692619,00.html

Kathimerini, 3.5.10: Deal agreed, tough steps announced http://www.ekathimerini.com/4dcgi/_w_articles_politics_100003_03/05/2010_116833

Greece: Ministry of Economy and Finance: Press Release, 2.5.10: Note on the Economic Policy Programme relating to the Eurogroup and the IMF support mechanism http://www.mnec.gr/en/press_office/DeltiaTypou/articles/article0231.html

Greece: Ministry of Economy and Finance: Note on the Economic Policy Programme relating to the Eurogroup and the IMF support mechanism, 2 May 2010 http://www.mnec.gr/export/sites/mnec/en/press_office/DeltiaTypou/Documents/2010_05_02_Programme2.pdf

IMF: Greece and IMF http://www.imf.org/external/country/GRC/index.htm

PressEurop, 3.5.10: Euro not out of the woods yet http://www.presseurop.eu/en/content/article/244171-euro-not-out-woods-yet

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