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Is default best solution for Greece and the eurozone?

The threat of a Greek debt default undermining the euro overshadows an EU summit getting under way in Brussels.

The 27 EU leaders are expected to reaffirm their determination to defend the single currency.

Prime Minister George Papandreou survived his self-imposed confidence vote and now he has to focus on getting his 28bn euro austerity plan through parliament.

Only then will Greece receive the next tranche of EU and IMF bailout money the country needs to keep afloat.

Matthew Price reports.

  • 23 Jun 2011
  • From the section Europe
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