In These New Times

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Euro Zone agrees on 130-billion-euro bailout for Greece

Posted by seumasach on February 21, 2012

Spiegel

21st February, 2012

Following marathon talks in Brussels, euro-zone finance ministers have agreed upon a second rescue package for Greece, worth 130 billion euros. The deal saves Athens from having to default in March. As part of the agreement, the private sector will take a 53.5 percent haircut on its holdings of Greek debt.

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