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Greece to receive second bailout
February 21, 2012
Eurozone finance ministers have agreed on a second bailout for Greece after talks in Brussels.
Greece is to receive loans worth more than 130 billion euros.
In return, Greece will undertake to slash its debt from 160 percent to 120.5 percent of GDP within eight years and accept a permanent European Union economic monitoring mission.
The country needs the funds to avoid bankruptcy on March 20th, when maturing loans must be repaid.
Roberta Dowell
Starcom News