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Keyword: fundinggaps

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  • Second Greek bailout in reach despite funding gaps

    02/20/2012 1:39:55 PM PST · by NormsRevenge · 2 replies
    Yahoo ^ | 2/20/12 | Luke Baker and Jan Strupczewski - Reuters
    BRUSSELS (Reuters) - Euro zone finance ministers inched towards approving a second bailout for debt-laden Greece on Monday that would resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy. Agreement on a 130-billion-euro rescue package on strict conditions would draw a line under months of uncertainty that has shaken the currency bloc, and avert imminent bankrupcty. As the ministers met, officials were struggling to make the numbers add up. EU sources said they had to cut a further 6 billion euros, via various means, to make the financing work, and private investors might have to...