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Eurozone leaders approve Greek loans

05-08-2010 09:36 BJT Special Report: Europe's Debt Crisis |

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Euro zone leaders have approved emergency loans for Greece, as fears rise that Athens' debt crisis could cause havoc in other European economies.

An EU source has confirmed the leaders of the 16-country common currency group had given their political stamp of approval to an EU-IMF deal.

Over three years, Greece will get 110 billion euros, or 147 billion US dollars. But EU sources say the leaders are divided on how to prevent such crises spreading to other heavily indebted countries.

It's expected all 27 EU finance ministers will hold further discussions in Brussels on Sunday.

 


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