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Friday, April 23, 2010

Greece begs IMF for a bailout

Greece petitioned Eurozone nations and the IMF for the funds necessary to keep it solvent, according to several media sources.

The Eurozone countries have made a “promise” to join the International Monetary fund to provide as much as $40 billion. It is not clear how much time that will buy for the southern European nation which has total sovereign debt of more than $400 billion of which over $50 billion is due this year.

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