Wednesday, February 22, 2012

Greece secures bailout to avoid debt default (AP)

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Managing Director of the International Monetary Fund Christine Lagarde, left, speaks with Greek Prime Minister Lucas Papademos during a round table meeting of eurozone finance ministers at the EU Council building in Brussels on Monday, Feb. 20, 2012. Eurozone governments will likely approve on Monday a long-elusive rescue package for Greece, saving it from a potentially calamitous bankruptcy next month, senior officials said. But finance ministers meeting in Brussels will have a few last issues to wrangle over, such as tighter controls over Greece's spending and further cuts to the country's debt load. (AP Photo/Yves Logghe)AP - The countries that use the euro pulled Greece back from an imminent and potentially catastrophic default on Tuesday, when they finally stitched together a euro130 billion ($170 billion) rescue they hope will also provide a lifeline to their common currency.


Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/ap/20120221/ap_on_bi_ge/eu_europe_financial_crisis

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