Greece Receives Bailout Funds, Crisis Averted


European finance ministers signed off today on $17 billion in loan money for Greece, enough to keep the country from defaulting on its loans and its government whirring away for another few weeks. The money is part of a more than $150 million aid package aimed at stabilizing Greece, which has seen its economy pummeled by the recession and weeks of street protests complaining about joblessness. Even so, the country will be out of money again by September, when the next batch of EU and IMF loans is expected.

Eurozone releases vital Greek aid installment [AP]