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BRUSSELS, April 11 (Xinhua) --Eurozone finance ministers on Sunday hammered out further details of a Greek rescue package, pledging 30 billion euros (41 billion U.S. dollars) in the first year to bail out debt-hit Greece if necessary.
Finance ministers from the 16-nation euro zone held a rare conference call to find a deal on the remaining details of the Greek rescue package after fresh concerns over a debt default by Athens hit the markets and pushed up the borrowing costs of the Greek government.
Juncker said the total amount would be shared by eurozone countries in accordance with their capital base in the European Central Bank (ECB), and the bilateral loans would be coordinated by the European Commission and paid via the ECB
Originally posted by xxshadowfaxx
There we go, greece problem solved. Back to economic recovery.
EU leaders haven't yet agreed unanimously to offer Greece a bailout, according to a Wall Street Journal report that offered details about the potential plan. But ministers have made the terms of a potential deal public in an effort to reassure world financial markets, which have been unnerved by Greece's debt woes for months.
Originally posted by Vitchilo
THE DECISION MADE TODAY WAS NO DECISION ON AID FOR GREECE.
Doubtful. This money seems to have come in the form of loans. It isn't enough and at best it's a quick temporary fix. Now the EU has set the precedent it's going to bail out it's members in trouble and Greece certainly isn't the only one.