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Greece receives next tranche of bailout funds
Source: Agencies |
December 14, 2012, Friday
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Print Edition
Print Edition
GREECE'S euro partners yesterday agreed to hand over the next disbursement of the country's bailout loans.
The cash-strapped country will get a total of 49.1 billion euros (US$64 billion) between now and March. Greece needs the money to stay afloat and avoid a potential default. Officials said Greece would get 34.3 billion euros in the coming days.
The decision came after Greece said it would buy back 31.9 billion euros of its bonds from private investors at a third of their face value, meeting a key condition to receive vital rescue loans.
The cash-strapped country will get a total of 49.1 billion euros (US$64 billion) between now and March. Greece needs the money to stay afloat and avoid a potential default. Officials said Greece would get 34.3 billion euros in the coming days.
The decision came after Greece said it would buy back 31.9 billion euros of its bonds from private investors at a third of their face value, meeting a key condition to receive vital rescue loans.
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