Finland approves Portugal's bail-out
http://www.bbc.co.uk/go/rss/int/news/-/news/business-13394004 Version 0 of 1. Finland has approved the financial rescue package for Portugal. A 25-member parliamentary committee, including members of all eight parties, gave outgoing Finance Minister Jyrki Katainen a mandate to support the package at the eurozone finance ministers meeting on 16 May. There had been concerns that the bail-out may be blocked by anti-EU parties following the 17 April election. Portugal needs 78bn euros ($111bn; £68bn) in loans from the EU and IMF. Finland is the only country that requires its parliament to approve the bail-out package. A new coalition government has not yet been formed. The nationalist True Finns Party became the third biggest party in the elections, but was unable to block the bail-out. |