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Greece is set to receive vital EU and IMF financial aid

Greece is set to receive more vital aid after its parliament passed the second of two austerity bills on 30 June.

The move commits the nation to 28 billion euros of spending cuts and tax rises over the next five years, and allows the EU and IMF to dispense further cash.

Meanwhile efforts to convince Greece's existing investors to stay on board have won the agreement of Germany's big banks and insurers.

Nigel Cassidy reports.

  • 01 Jul 2011
  • From the section Europe