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Business (21.02.2012)
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Eurogroup meets in Brussels
By the end of the first nine months of 2011 the debt of Greece amounted to approximately 160 percent of GDP and reached about 350 billion euros.

RIA Novosti referring to some European sources reports that finance ministers of the Eurozone approved a plan to bailout Greece from its debt crisis. On Monday evening heads of the Eurozone tax authorities held a Eurogroup meeting to discuss a second aid package for Greece, the provision of which had been confirmed at the EU summit in December 2011. Then the European politicians decided to provide Greece with 130 billion euro bailout aid, but later there was information saying that these funds will not be enough for Greece to reduce the national debt to the benchmark of 120 percent of GDP by 2020. According to a source from the EU diplomatic circles, the Eurozone finance ministers after about a 12-hour meeting agreed that the second aid programme should enable a decrease in Greece’s public debt to 120.5 percent of the country’s GDP by 2020. Previously the figure was 120 percent.
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