The European Union approved on Sept. 3 a scheme aimed at recapitalizing Greek banks hit by the financial crisis. The Hellenic Financial Stability Fund, which boasts resources amounting to 10 billion euros (USD13.42 billion), forms part of a three-year emergency loan package supported by the eurozone and International Monetary Fund to counter Greece’s debt crisis, Reuters reports.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.