Troika boosts eurozone bail-out support

The European Union pledged to do 'whatever it takes' to support Portugal, Greece and Ireland until they were able to return to debt markets, provided they complied with their bail-out programmes.

The guarantee was given by officials of the so-called 'troika' – the European Commission, IMF and European Central Bank – on the 12 August 2011 as they completed their first quarterly review of Portugal’s €78bn rescue package.

ESO: Background information: Seeking a Path out of the Crisis in Portugal http://www.europeansources.info/record/seeking-a-path-out-of-the-crisis-in-portugal/

IMF: Press Release, No.307, 2011 (12.8.11): Statement by the EC, ECB, and IMF on the First Review Mission to Portugal http://www.imf.org/external/np/sec/pr/2011/pr11307.htm

---