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Euro zone agrees bailout for Greece
Posted By admin On March 13, 2010 @ 1:25 am In Money Watch | Comments Disabled
March 13, 2010
The euro zone has agreed a multi-billion euro bailout for heavily indebted Greece as part of a package to support the euro, the Guardian newspaper reported on Saturday.
The 16 euro zone members have agreed on “coordinated bilateral contributions” in the form of loans or loan guarantees to Greece if Athens is unable to refinance its debts and asks the European Union  for help, the Guardian quoted a senior European Commission official as saying.
The agreement was reached despite strong resistance by Germany , and Berlin has played the pivotal role in organising the deal, the paper quoted other sources as saying.
Euro zone finance ministers will finalise the package on Monday, the paper said.
The aid to be made available by the bailout could reach 25 billion euros, the paper quoted its sources as saying. Greece’s borrowing needs for the whole of 2010 total 53.2 billion euros.
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URLs in this post:
 Reuters: http://uk.news.yahoo.com/22/20100313/tpl-uk-greece-20b2d2f.html
 European Union: http://www.prisonplanet.com/fc/european-union.html
 Germany: http://www.prisonplanet.com/fc/germany.html
 Image: http://purewaterfreedom.com/
 Euro rallies after ministers agree Greece bailout terms: http://www.prisonplanet.com/euro-rallies-after-ministers-agree-greece-bailout-terms.html
 Greece Set to Agree on Bailout as Germany Demands Action: http://www.prisonplanet.com/greece-set-to-agree-on-bailout-as-germany-demands-action.html
 Greece Agrees to Bailout Deal With E.U. and the I.M.F.: http://www.prisonplanet.com/greece-agrees-to-bailout-deal-with-e-u-and-the-i-m-f.html
 For Euro Zone, the Heat Is on Again: http://www.prisonplanet.com/for-euro-zone-the-heat-is-on-again.html
 Greece to Leave Euro Zone on June 18: Wealth Manager: http://www.prisonplanet.com/greece-to-leave-euro-zone-on-june-18-wealth-manager.html
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