Finnish parliament approves bailout for Portugal

13:57, May 26, 2011      

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Finland's parliament on Wednesday approved a bailout plan for Portugal, pledging about one billion euros of contribution in the 78-billion-euro (110 billion U.S. dollars) package.

After protracted talks, the European Union-International Monetary Fund bailout was approved on a 137-49 vote, with seven abstentions in the 200-seat legislature.

Unlike other eurozone countries, Finland's parliament has the right to vote on EU requests for bailout packages.

The bailout was supported by the last government, which was dissolved after April parliament elections.

Finance Minister Jyrki Katainen, the likely next prime minister, had already endorsed the bailout package with the backing of a parliamentary committee. Wednesday's vote makes the country's contribution to the bailout official.

Source: Xinhua
 
 
     
 
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