Eurozone finance ministers and the IMF have reached agreement on the next instalment of an urgently-needed bailout for Greece.
It’s hoped the loans – worth 44 billion Euro – will save Greece’s struggling banks and allow the government to pay wages and pensions next month.
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The aim of the plan is to get Greece’s overall debt level down to about 124 per cent of economic output – it’s currently at 180 per cent.
