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At its second additional sitting on February 23, the Riigikogu adopted with 56 votes in favour (and 32 votes against) the Resolution of the Riigikogu On Approving the Draft Memorandum of Understanding on Specific Economic Policy Conditions between the European Commission and the Hellenic Republic (185 OE), presented by the Government on February 22. 

This Resolution approved the draft Memorandum of Understanding on specific economic policy conditions between the European Commission and Greece. Under the European Financial Stability Facility (EFSF) Framework Agreement, financial aid is given to Member States mainly in the form of an EFSF loan. The detailed comprehensive economic policy programme that must be followed to receive the loan is agreed on between the eurozone Member States and the Member State receiving financial aid in the economic policy memorandum that serves as the basis for the loan. 

The total volume of the second loan programme for Greece is EUR 130 billion. The capital key for Estonia in guaranteeing EFSF loan obligations is 0.2748 %. The final amount of Estonia’s guarantee will be determined after the participation percent of the private sector has been determined and the capital needs of the Greek banks have been assessed. In addition to this, the part of the IMF in the total loan sum still remains to be fixed. 

The new support programme provides a large scale plan for restoring the sustainability of the Greek economy and ensuring the financial stability in Greece and consequently in the whole eurozone. 

Aivar Riisalu, Juku-Kalle Raid, Tarmo Leinatamm, Igor Gräzin, Peeter Võsa, Tõnis Kõiv, Jevgeni Ossinovski, Urve Palo, Mihhail Stalnuhhin, Rait Maruste, Sven Mikser, Aivar Sõerd, Indrek Saar, Kadri Simson and Urmas Reinsalu participated in the discussion during the second reading. 

The third additional sitting began at 9.30 p.m. and ended at 11.35 p.m. 

The Riigikogu Press Service