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Greece bailout package set at 110bn euros

8 years ago119 views

ODN

ODN


Greece has agreed a 110 billion euro bailout package with the IMF and its eurozone partners.

Dominique Strauss-Kahn, the head of the IMF, said the Fund would contribute 30 billion euros to the total package and the rest would come from other members of the European single currency zone.

In exchange for the rescue plan - the largest assembled for any country - Athens announced spending cuts and tax increases totaling $30 billion euros, on top of austerity measures already announced.

The announcement raised fears of further unrest, following a day of violent demonstrations in the Greek capital.

A bomb exploded at a branch of HSBC bank in Athens on Sunday, damaging its entrance but causing no injuries.

Police said the device appeared to be a home-made bomb made of gas cannisters and fuel, a crude weapon favoured by anarchists in Greece.

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