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Estonian government approves of participation in financial assistance to Greece

February 23, 2012, 0:40 UTC+3
“Per each euro that Estonia contributes to the European Union it gets back 5.5 euros,” Paet said
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TALLINN, February 23 (Itar-Tass) —— The Estonian government met in early session on Wednesday to approve of the country’s participation in the second package of the EU’s assistance to Greece, the Cabinet’s press-service said. Estonia’s share in the second 130-billion-euro package of the European Union’s aid to Greece is 375.74 million.

Now the government’s resolution will be handed over to parliament for approval. The chairman of the parliamentary financial aid commission, Sven Sester, promised to promptly call an early meeting of the commission for considering the issue. After that a decision is to be put to the vote in parliament. Estonia and Germany are the sole countries of the euro area where aid packages are to be approved by the national legislatures.

Estonian Foreign Minister Urmas Paet told parliament on Tuesday the people are to be explained convincingly why Estonia should support the operation of the economy of Greece, where wages and fringe benefits are several times higher those in Estonia. He urged everybody to remember that Estonia was getting from the European Union much more than it was investing in it.

“Per each euro that Estonia contributes to the European Union it gets back 5.5 euros,” Paet said.

 

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