June 3, 2011
Greece moved closer on Friday to receiving a second bailout after agreeing to new measures to bring down its debt.
A statement from the International Monetary Fund, the European Commission and the European Central Bank said on Friday that Greece had agreed to the measures, which include a new austerity plan and the creation of an independent fund to privatize 50 billion euros in state assets.
The next installment of international aid under the original bailout, which had been in doubt, “will become available, most likely, in early July,” it added.
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