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Greek finance minister Giorgos Papakonstantinou (2nd from left) with top EU officials in Brussels on Sunday (Photo: consilium.europa.eu)

Euro area states agree €110bn loan for Greece

Eurozone states and the IMF have agreed a three-year lending package for Greece worth €110 billion. The decision taken by euro area finance ministers in Brussels on Sunday evening (2 May) follows months of market turmoil, during which Greece's borrowing costs have risen to record highs, sparking fears of a sovereign debt default and breakup of the single currency area.

"It is an important day for the future of Greece and an important day for the financial stability and economic governa...

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Greek finance minister Giorgos Papakonstantinou (2nd from left) with top EU officials in Brussels on Sunday (Photo: consilium.europa.eu)

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