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Greek bailout may require up to 145 billion from eurozone
Eurozone governments may have to provide up to 145 billion euros to Athens under a second emergency loan program for Greece, EU sources said on Friday, 15 billion euros more than previously expected. The extra funds are mainly required to help recapitalize the Greek banking sector once a deal is struck to write down the value of bonds owned by private-sector creditors, the sources said. "It's mostly because of recapitalization needs of Greek banks due to PSI,» one of the sources said, referring to what's called private sector involvement. The other source did not say explicitly that 145 billion euros would be ... (full story)
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