Euro Zone Reaches Deal to Bail Out Greece

Friday, July 22, 2011

European leaders came to an agreement yesterday to help keep Greece and the rest of the euro zone from falling further into financial crisis. Greece will receive a second bailout, in the amount of 109 billion euros, or $157 billion. The move by the euro zone comes as Ireland and Portugal are still teetering on economic turmoil. The European Financial Stability Facility, the euro zone's rescue fund, will be given broad new powers to assist countries that have not yet been bailed out. It is unclear how French and German citizens, who have opposed any bailout, will react to the deal.

Landon Thomas, Jr., financial correspondent for our partner, The New York Times, has more details on the agreement and its impact.


Landon Thomas, Jr.

Produced by:

David J Fazekas

Comments [1]

Nick Bacon from Upper West Side, Manhattan


I am an expat Brit in New York, and was amused to hear Celeste refer to something good in the UK being referred to as "The Dog's Bollox"

My nice new motor cycle bears the licence plate DGSBLX, to the amusement of my British friends and bemusement of my American ones.

Jul. 22 2011 07:36 AM

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