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EU urged to block Greece bail-out
Leading London-based think tank Open Europe has claimed that a fresh bail-out, expected to be around €120bn (£106bn), will almost triple taxpayers’ existing exposure to Greek debt. “Despite a second Greek bail-out being EU leaders’ preferred option, it is only likely to increase the economic and political cost of the eurozone crisis,” said Open Europe in a report. The warning came ahead of a crucial vote of confidence in the Greek government, which was won - as expected - late last night. The vote came at the end of a three-day debate on George Papandreou’s unpopular package of spending cuts and asset ... (full story)
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