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From Niki Kitsantonis and Matthew Saltmarsh at the NY Times: Greece Calls for Activation of Financial Rescue Package
Describing his country’s economy as “a sinking ship,” the Greek prime minister formally requested an international bailout on Friday … The plan foresees up to €30 billion, or $40 billion, in loans from Greece’s euro-zone partners, as well as up to €15 billion from the International Monetary Fund.
“We are prepared to move expeditiously on this request,” Dominique Strauss-Kahn, the I.M.F. managing director, said in a statement issued in Washington, where a meeting of the Group of 20 finance ministers is taking place.