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Image header Agence Europe
Europe Daily Bulletin No. 9934
GENERAL NEWS / (eu) eu/economy

Latvia granted second instalment of balance of payments bailout - new stage in excess deficit proceedings

Brussels, 02/07/2009 (Agence Europe) - On Thursday 2 July 2009, the European Commission decided to release the €1.2 billion second instalment of the European Union loan to Latvia to support the adjustment programme. The second instalment will be disbursed in July after the signature of a Supplemental Memorandum of Understanding and after raising the money in the financial markets. At the same time, the Commission recommended, in the context of the excess deficit procedure (Article 104,...

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