Bloomberg News

Greece’s Venizelos Calls Euro Area’s Aid Approval ‘Positive’

October 21, 2011

Oct. 21 (Bloomberg) -- Greek Finance Minister Evangelos Venizelos said the euro area’s approval of the sixth disbursement of funds under last year’s rescue was a “positive step” that justified budget cuts and would lead to better aid terms in a new financing package.

“The sacrifices of the Greek people and the implementation of tough, but nationally imperative, rescue measures are the basis not only of the sixth tranche but also of the new program that secures the long-term sustainability of Greek public debt,” Venizelos said in an e-mailed statement today after the endorsement by euro-area finance chiefs in Brussels.

To contact the reporter on this story: Maria Petrakis in Athens at mpetrakis@bloomberg.net

To contact the editor responsible for this story: Jonathan Stearns at jstearns2@bloomberg.net


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