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Finnish parliament backs bridge financing for Greece

16 July 2015, 14:24 CET
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(HELSINKI) - Finland's parliament on Thursday gave its approval for the European Union's bridge financing plan and for talks on a third bailout deal for Greece, Finance Minister Alexander Stubb said.

The approval was given at a meeting of the parliament's Grand Commission, which consists of 25 lawmakers and which decides the parliament's positions on EU matters.

"Today we have mandates from the Grand Commission to approve both the seven billion euro ($7.6 billion) bridge financing proposed by the European Commission and the strictly conditional Eurogroup decision to begin negotiations for an ESM (European Stability Mechanism) funding package for Greece," Stubb told journalists in Helsinki.

Finland still opposed any "haircut" or reduction of the amount Greece owed its creditors, he added.

Greek lawmakers backed a deeply contentious bailout package early Thursday, clearing the first hurdle towards securing a rescue hours before fresh talks between eurozone ministers.

Backing from the Greek parliament was a requirement for Athens to secure a third bailout worth up to 86 billion euros ($94 billion)from the EU, and means tough talks to finalise the long-awaited deal can begin in earnest.


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