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Greece to get bail-out money

By Toby Vogel  -  13.12.2012 / 13:37 CET
Eurozone finance ministers approve next tranche of funding.
Eurozone finance ministers have approved the next instalment of Greece's bail-out.

"Money will be flowing to Greece as early as next week," said Jean-Claude Juncker, who chaired the meeting. "We are convinced the [reform] programme is back on a sound track."

The €€49.1 billion in aid will be disbursed by end of March, with the bulk - €€34.3bn - paid out in the coming days.

The decision, which was backed by the International Monetary Fund, was made possible by the success of a bond buyback programme that Greece launched last week.
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