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Europe seals new Greek bailout to avert default

By: Yossel in GREECE | Recommend this post (0)
Tue, 21 Feb 12 2:31 PM | 396 view(s)
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Europe seals new Greek bailout to avert default

1 of 5. Greece's Finance Minister Evangelos Venizelos (L) and Greece's Prime Minister Lucas Papademos (R) hold a joint news conference after a Eurogroup meeting in Brussels February 21, 2012. Euro zone finance ministers struck a deal early on Tuesday for a second bailout programme for Greece that will involve financing of 130 billion euros ($172 billion) and aims to cut Greece's debts to 121 percent of GDP by 2020, EU officials said.

BRUSSELS (Reuters) - Euro zone finance ministers sealed a 130-billion-euro ($172 billion) bailout for Greece on Tuesday to avert a chaotic default next month

Credit: Reuters/Yves Herman

Annika Breidthardt and Jan Strupczewski

BRUSSELS | Tue Feb 21, 2012 5:38am EST

after forcing Athens to commit to unpopular cuts and private bondholders to accept deeper losses.

link-
http://www.reuters.com/article/2012/02/21/us-greece-idUSTRE8120HI20120221

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