Press Release: Statement by the Eurogroup, Brussels, 2 May 2010

Eurogroup Ministers concur with the Commission and the ECB that market access for Greece is not sufficient and that providing a loan is warranted to safeguard financial stability in the euro area as a whole. Following a request by the Greek authorities, euro area Ministers unanimously agreed on 2 May 2010 to activate stability support to Greece via bilateral loans centrally pooled by the European Commission under the conditions set out in their statement of 11 April. Parliamentary approval, needed in some Member States prior to the release of the first tranche, is expected to follow swiftly.