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Euro Zone Agrees to Second Greek Bailout

Written: 2012-02-21 13:20:46Updated: 2012-02-21 14:38:27

Euro Zone Agrees to Second Greek Bailout

The euro zone has agreed to a second bailout package for Greece.

Euro zone finance ministers held a meeting in Brussels, Belgium, Tuesday and agreed to a 130-billion-euro financial lifeline for the debt-ridden country.

The deal aims to cut government debt in Athens to 120-point-five percent of gross domestic product (GDP) by 2020.

Greece has a March 20th deadline to repay 14-point-five billion euros in debt or face bankruptcy.

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