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Eurozone holds its breath for EFSF green light

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Eurozone holds its breath for EFSF green light

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It is being billed as another vital week for the eurozone in efforts to finally bring the bloc’s sovereign debt crisis under control. Several European parliaments, including Germany’s and Finland’s, must vote on whether to approve a July action plan agreed by member states in Brussels. If ratified, the deal will see Europe’s main bailout fund, the European Financial Stability Facility, strengthened to 440 billion euros. That aims to provide further funding for the eurozone’s struggling economies, notably Greece.

But getting it passed in domestic parliaments has proved difficult. Many member states, in particular Finland, want to make sure Athens is implementing tough economic reforms before handing over more cash. Euronews’ Paul Hackett spoke to Alex Stubb, Finland’s minister for European Affairs. Click play for the full interview.