Eurozone finance ministers to meet today to discuss Greek bailout
20.02.2012
Eurozone finance ministers are scheduled to meet later today in Brussels to discuss Greece’s €130bn bailout programme.
The ministers will consider a second rescue plan for the country, however approval is not guaranteed.
Last week, the Greek parliament agreed on a €3.3bn savings plan, which paved the way for the bailout agreement.
Greece’s economy shrank by 7pc in the last quarter of 2011 and it has to pay €14.5bn of debt next month, which it does not have.
The country will go bankrupt if it does not get new funding.
If that happened then other EU countries in bailout programmes such as Ireland would reportedly be among the first to feel the negative effects.
Karina Corbett