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Brussels blog by some wire service journalists

Greece awaits bailout decision but issues remain

By GABRIELE STEINHAUSER and SARAH DiLORENZO

BRUSSELS (AP) — Eurozone governments are due to sign off on Monday a long-awaited rescue package for Greece, saving it from a potentially calamitous bankruptcy next month, senior officials said.

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 to secure the euro130 billion ($170 billion) bailout quickly so it can move ahead with a related euro100 billion ($130 billion) debt relief deal with private investors, which needs to be in place quickly if Athens is to avoid a disorderly default on a bond repayment on March 20.

“I am of the opinion that today we have to deliver, because we don’t have any more time,” Jean-Claude Juncker, the prime minister of Luxembourg who also chairs the meetings of eurozone finance ministers, said as he arrived in Brussels.

READ THE FULL STORY HERE.

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