Greece capable of repaying loans: Finnish central bank governor

09:36, May 05, 2010      

Email | Print | Subscribe | Comments | Forum 

Greece is capable of repaying all the loans it receives from its fellow eurozone countries, Bank of Finland Governor Erkki Liikanen said Tuesday.

The risks for Finland in granting extensive loans to Greece are limited, and Greece is "fairly certainly" going to repay its debts, Liikanen, who is also a member of the governing council of the European Central Bank, said in an interview with the Finnish Broadcasting Company.

The 16 member countries of the euro zone decided Saturday to activate an aid package for Greece, which provides an unprecedented 110 billion euros (146 billion U.S. dollars) to Greece over the next three years -- 80 billion euros (106 billion dollars) will be provided by eurozone nations and the rest by the International Monetary Fund.

Liikanen said the package is exceptionally well prepared, and will, in the long term, create new growth opportunities in Greece, adding that the aid is crucial for Greece to survive the debt crisis.

Finland's contribution to the package is 1.48 billion euros (1.96 billion dollars); and the Finnish government has submitted to parliament a proposal for a supplementary budget of 1.6 billion euros (2.12 billion dollars) to cover its share of the bailout.

That means Greece can get a 550-million-euro (730-million-dollar) loan from Finland this year should the proposal be approved.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion