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Vienna, 21 February 2012 Fekter: "Rescue package for Greece adopted thanks to immense efforts" Financing limit of EUR 130 billion not exceeded

"In tough, but constructive negotiations, we have found a positive solution for Greece," declared Finance Minister Dr Maria Fekter, expressing her satisfaction over the agreement achieved on the second rescue package for Greece. "In this way, Greece has more money and above all more time to secure its liquidity and to embark on a path ensuring its survival," stressed Fekter. "We have also fulfilled the 130/120 rule, which means that the financing limit of EUR 130 billion has not been exceeded and Greek government debt will not be more than 120% of GDP by 2020," declared Fekter following the 12-hour marathon session.

"For Austria, this solution means that we do not have to shoulder the entire interest-rate reduction alone with the triple-A countries," Fekter added. They would now have to bear all additional expenditure, and this would be "offset" by the income of the European Central Bank (ECB).

"With the second Greek package, the European Union will get a grip on the debt crisis," assured Fekter, urging the private sector to take up the offer brokered. "By the end of February, Greece still has to fulfil an action plan, which we will review in a special meeting of the Eurogroup," she concluded.