Greece avoids bankruptcy as EU clears way for bailout
Greece will be able to pay its bills this month after eurozone finance ministers cleared the way late on Saturday for the next €12 billion tranche of a €110bn bailout granted last year by the EU and IMF.
But the ministers still need to work on a second rescue package potentially of similar size to ensure Athens can stay afloat until at least 2014, warding off a devastating default that would reverberate across Europe.