Eurozone agrees 130 billion euros of new loans for Greece
BRUSSELS - Agence France-Presse
International Monetary Fund Managing Director Christine Lagarde (L) and Luxembourg Prime Minister and Eurogroup president Jean-Claude Juncker (C), EU Commissioner for Economic and Monetary Affairs Olli Rehn (R) give a press conference following an Eurozone meeting on February 21, 2012 at the EU Headquarters in Brussels. AFP photoEurozone finance ministers agreed Tuesday to put up 130 billion euros in new loans under a revamped bailout package for debt-ridden Greece, a governmental source said.
After ministers sealed a deal with private creditors for a write-down of Greek sovereign debt worth 53.5 percent of paper value, an increase of 3.5 percent on the terms originally agreed by eurozone leaders in October after deep recession in Greece saw slippage on projected debt reduction by 2020.