Author (Person) | Hope, Kerin |
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Series Title | Financial Times |
Series Details | 15.12.10 |
Publication Date | 15/12/2010 |
Content Type | News |
Article reports that Greece had embarked on a last-minute legislative dash in december 2010 to meet conditions set by the European Union and International Monetary Fund for disbursing the next two portions of the country’s bail-out loan. Further signs of social and labour market unrest took place also. The IMF’s Executive Board approved on the 17 December 2010 the disbursement of about €2.5 billion to Greece as part of the three-year lending arrangement that was agreed in May 2010. The IMF loan is part of an international rescue package worth €110 billion, of which the European Union is providing €80 billion and the IMF the remaining €30 billion. The IMF praised the country's progress with stringent austerity measures, while also warning of tougher times to come. |
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Countries / Regions | Greece |