Greece awaits bailout decision but issues remain
Published 10:46 am Monday, February 20, 2012
BRUSSELS — Eurozone governments are expected to sign off on Monday a long-awaited rescue package for Greece, saving it from a potentially calamitous bankruptcy next month, according to senior officials.
But finance ministers meeting in Brussels still have a few last issues to wrangle over, such as tighter controls over Greece’s spending and further cuts to the country’s debt load.
Greece needs to secure the €130 billion ($170 billion) bailout quickly so it can move ahead with a related €100 billion ($130 billion) debt relief deal with private investors, which needs to be in place quickly if Athens is to avoid a disorderly default on a bond repayment on March 20.