Parliament Debates Greek Bailout

Finland's share of the loan is 1.48 billion euros. However the supplemental budget calls for 1.6 billion, which the government estimates Finland might have to pay if some other eurozone country is unable to pay its share.

MPs from three opposition parties - the SDP, the Left Alliance and the True Finns - all angrily criticised the deal on Tuesday. However only the Left and the True Finns have said outright that they will vote against it.

They have demanded guarantees that Greece will be able to repay its debt. However Finance Minister Jyrki Katainen admitted that no-one could give a solid guarantee the loan would be paid back with interest. The loan is a risk but has been devised to avoid a loan default by Greece which would have disastrous knock-on effects throughout Europe, he noted.

The three-year support package, which is worth 110 billion euros, must be approved by all EU member parliaments. Greece could start receiving money from the rescue package in about a week.

After Parliament's debate in full session on Tuesday, the bill will proceed to the committee stage.

Prime Minister Matti Vanhanen told a press conference the Finnish contribution would be given to Greece in quarterly increments and only if the country works together with the EU and IMF in accordance with the agreed deal .

The euro continued to lose value on Tuesday despite the EU's agreement on the aid package, hitting a one-year low against the dollar. European stocks also continued to fall, hurt by worries that the bailout faces tough political hurdles. Investors fear that Spain and Portugal may need similar bailouts.

Finnish Politicians React to Greek Bailout