22/07/2011 11:33
109 billion euros allocated to Greece
The leaders of the 17 eurozone countries agreed on a second bail-out package for Greece together with the International Monetary Fund (IMF) worth a total of 109 billion euro ($157 billion), speroforum.com reports.
They also took what's being seen as a radical decision to vastly increase the power of the euro rescue fund so that it can bolster weak economies and stave off future financial instability in the region.
Dutch Prime Minister Mark Rutte said the leaders had "sent a clear signal to the markets by showing our determination to stem the crisis and turn the tide in Greece, thereby securing the future of the savings, pensions and jobs of our citizens all over Europe," the rferl.org reports.