EIB rules out Greek bail-out

The European Investment Bank, the European Union’s long-term lending institution, quashed on the 9 February 2010 speculation that it might become involved in a financial bail-out of Greece, saying such support would go beyond its legal mandate.

EIB President Philippe Maystadt confirmed in a media statement that the European Investment Bank will only finance economically viable projects. 'The EIB's mission and Statute do not allow for bailouts in terms of budget deficits or balance-of-payments support to individual Member States', Maystadt said.

ESO: Background information: EU divided over Greek IMF bailout http://www.europeansources.info/record/eu-divided-over-greek-imf-bailout/

EIB: EIB confirms: no bailouts, 9.2.10 http://www.eib.org/about/news/eib-confirms-no-bailouts.htm

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