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12 Apr 2013
EU finance ministers approve 7-year bailout extension to Ireland and Portugal
FXstreet.com (Córdoba) - European Union finance ministers formally approved on Friday an extension of the maturities of bailout loans granted by the EU to Ireland and Portugal by 7 years.
The 17 eurozone finance ministers agreed on the extension, but as some loans were also issued by a fund backed by all 27 European Union countries (EFSM), the other 10 ministers still have to give their approval.
The 17 eurozone finance ministers agreed on the extension, but as some loans were also issued by a fund backed by all 27 European Union countries (EFSM), the other 10 ministers still have to give their approval.