Greece Rescue Plan Could Win Approval Today

11:33 AM, Feb 20, 2012   |    comments
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PARIS (AP) - Eurozone governments could finally approve a rescue package for Greece today.

But finance ministers meeting in Brussels still have a few last issues to wrangle over, such as tighter controls over Greece's spending and further cuts to the country's debt load.

Greece needs the $170 billion bailout to avoid bankruptcy next month.
France's finance minister says the United States has expressed its backing for an International Monetary Fund role in a future support program for debt-ridden Greece.

Francois Baroin says eurozone finance ministers, set to meet in Brussels on Monday, have assembled "all the elements of a deal" on a €130 billion ($171 billion) bailout package that could stave off a Greek bankruptcy.

Baroin told Europe-1 radio the money would go into a special-purpose account to make sure that "Chinese, Korean, Japanese, American" and other investors who "trusted" Greece and the euro zone would be paid back.

The minister said the U.S. has expressed support for the IMF to take part in an unspecified "new program" for Greece - whose government has faced protests over austerity measures aimed to avoid default next month.

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