what are the entities that send out bailouts to countries?
what are the entities that send out bailouts to countries? I don't mean bailout to banks or companies， but to countries like Greece and Portugal. The IMF? The EU? What about non-EU members? Do they send anything? tks!
- Helena MegreLv 59 years agoFavorite Answer
Normally, is the IMF, but in European Union is quite complicate.
Greece was the first. The lenders of the bailout were the European Union, the IMF and the European Central Bank (ECB). To that group, people start to call "Troika".
After Greece, European Union made a Found, that would bailout other indebted countries. The European Financial Stability Facility (EFSF), was made with the donation of all the countries including the ones that would be rescued later.
So, when Ireland asked for help instead of the "Troika", the bailout money came 70% from the EFSF (UK entered with some money too because they have interest in Ireland), and 30% from IMF, however, the so called "Troika", is the one who evaluates the application of the bailout terms.
After Ireland, Portugal (my country), was the last to ask for a bailout, and the terms were the same as in Ireland. United Kingdom, though, was reluctant to participate, but the European Union convinced it to do so.
- 9 years ago
Organizations that are helping Greece & Portugal out include:
International Monetary Fund
European Union Central Bank
Countries that are helping Greece & Portugal out include:
- nostradamus02012Lv 79 years ago
the only nation to not socialize bank loss is iceland.
funny how the media hasn't spent much time talking about that.