Greece to get second bail-out - but will it work?
A second financial bail-out of Greece to stop it defaulting on its mountain of debt could be signed off later after weeks of talks by a delegation from the EU, IMF and European Central Bank.
They are due to reveal whether Greece is doing enough to qualify for the next slice of its existing aid package - the 110 billion euro bail-out agreed last May.
But a year on, a loss of investor confidence and a worsening economic situation have meant that plan is not working.
According to reports, the second bail-out has now been agreed in principle. It would cover Greece's finances until at least 2013 - but would mean even more painful reforms.
Jeremy Howell reports.
03 Jun 2011
- From the section Business