EU Backs Up Rescue Package for Greece Euro zone leaders meeting in Brussels have backed a deal to provide €23 billion in aid to help Greece tackle its debt crisis, which has threatened the stability of the euro.

The rescue package, involving money from the International Monetary Fund, will be a last resort.

It is hoped that the agreement can end weeks of uncertainty in the face of continued speculation by the currency markets.

Jean Claude Trichet, the European Central Bank President, said the credibility of Greece was improving and he assumed the mechanism agreed by the leaders, which is a mix of International Monetary Fund money and bilateral loans from the euro zone, would not be needed.


Source: www.rte.ie

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