Business World

Sunday 17 December 2017

Austrian politicians agree to back expansion of €440bn bailout fund reporters

Austrian policymakers have given the green light for the €440bn bailout fund to be increased as Greece negotiates with EU/IMF/ECB representatives on a new €8bn tranche of money.

Following the vote, Austria guarantees to provide €21.6bn, up from €12.2 bn previously.

Only two right parties opposed the bill with the governing centre-left coalition supported by the Greens.

Only two right-wing parties opposed the bill.

The Austrian vote comes just a day after the German court endorsed the plan.

It needs the backing of all 17 eurozone countries.

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