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Europe clears urgent aid to save Greece from default

Posted By admin On July 3, 2011 @ 1:59 am In Featured Stories | Comments Disabled

AFP [1]
July 3, 2011

Eurozone finance ministers cleared the way for Greece to receive urgent funds to avoid imminent bankruptcy, but warned it would take weeks to conclude a new bailout for the debt-hit nation.

Greece is expected to receive 12 billion euros from the eurozone and IMF by July 15 after the ministers approved the fifth tranche of aid from last year’s 110-billion-euro ($160 billion) financial rescue package.

The IMF is due to clear its slice of the next installment, 3.3 billion euros, next week. The eurozone’s share amounts to 8.7 billion euros.

Following a more than two-hour conference call, the ministers said in a statement they would also determine the details of a second bailout for Greece, including the scale of private sector participation, in the “coming weeks.”

Full article here [1]

Europe clears urgent aid to save Greece from default   030511banner3 [2]

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URLs in this post:

[1] AFP: http://www.rawstory.com/rs/2011/07/03/europe-clears-urgent-aid-to-save-greece-from-default/

[2] Image: http://www.stansberryresearch.com/pro/1103PSIEOAVD/PPSIM375/PR

[3] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[4] Here’s Why Everyone’s Thinking That Greece Might Default This Weekend: http://www.prisonplanet.com/heres-why-everyones-thinking-that-greece-might-default-this-weekend-read-more-httpwww-businessinsider-comspeculation-that-greece-will-default-2011-9ixzz1xxmxzjd1.html

[5] Greece Is Insolvent, Will Default on Debt: Fitch: http://www.prisonplanet.com/greece-is-insolvent-will-default-on-debt-fitch.html

[6] Europe considers Greek default, leaders to meet: http://www.prisonplanet.com/europe-considers-greek-default-leaders-to-meet.html

[7] Ack! They Are Actually Going To Let Greece Default!: http://www.prisonplanet.com/ack-they-are-actually-going-to-let-greece-default.html

[8] Obama asks eurozone to keep Greece in until after election day: http://www.prisonplanet.com/obama-asks-eurozone-to-keep-greece-in-until-after-election-day.html

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