Calamos Supports Greece
GreekReporter.comGreek NewsEconomyGreek Premier Calls For Permanent EU Stabilization Fund

Greek Premier Calls For Permanent EU Stabilization Fund

Greece’s prime minister on Friday called on European countries to make a EUR440 billion stabilization fund permanent, in a bid to improve economic governance in the region.
“We should now work for a permanent stabilization fund, a new European monetary fund financed by contributions of euro-zone members, proportionate to the size of their wealth,” George Papandreou said in a speech to be delivered Friday night in Vienna at a banking conference.
Euro-zone countries in May unveiled a EUR750 billion rescue package aimed at allaying fears of a sovereign default in the euro area. Central to the plan is a EUR440 billion fund financed through a special purpose vehicle from which troubled countries can borrow if need be. However, euro-zone countries have only agreed for the rescue fund to be in place for three years.

See all the latest news from Greece and the world at Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!

Related Posts