Athens faces tough bail-out terms

Article reported that a €130bn bail-out of Greece would contain unprecedented controls on Athens’ ability to spend funds, as European leaders scrambled on the 16 February 2012 to paper over their divisions on a rescue package.

It was also reported that a split had emerged in the German government over whether to grant Greece a second bail-out package with Wolfgang Schäuble, finance minister, pushing to let Athens default while Chancellor Angela Merkel was firmly against, according to German and eurozone officials.

ESO: Background information: The Greek debt crisis of 2010 http://www.europeansources.info/record/the-greek-debt-crisis-key-sources/

ESO: Background information: EU divisions threaten aid for Greece / Greek rhetoric turns into battle of wills http://www.europeansources.info/record/eu-divisions-threaten-aid-for-greece-greek-rhetoric-turns-into-battle-of-wills/

Kathimerini, 16.2.12: Greece awaits eurozone verdict http://www.ekathimerini.com/4dcgi/_w_articles_wsite1_20299_16/02/2012_428375

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