Tag Archives: financial assistance

Greece Formally Asks for Help

Greece has formally asked for financial assistance under the EU-IMF joint financial package.

The Greek finance minister, George Papaconstantinou, has sent a letter to Eurogroup President Jean-Claude Juncker, EU economy commissioner Olli Rehn and European Central Bank President Jean-Claude Trichet, requesting the activation of the support mechanism.

The request for aid must first be approved by the ECB and the European Commission. Then it must be approved unilaterally by all eurozone Member States.