Wednesday, May 18, 2011

Eurozone talks in Brussels focus on Greece

BBC News
May 17, 2011

Eurozone financial ministers are considering a "soft restructuring" of Greece's debts in return for progress on its privatisation plans.

Greece got a 110bn euro ($136bn; £94bn) bail-out in 2010, but there is growing acceptance that it was not enough.

On Monday, the ministers approved a 78bn euro bail-out for Portugal.

The talks in Brussels have been overshadowed by the arrest of IMF boss Dominique Strauss-Kahn in New York, for the sexual assault of a hotel maid.

The International Monetary Fund (IMF) has also approved 1.58bn euros in new assistance to the Irish Republic.

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