Greece gets euro zone bailout

Euro zone finance ministers approved a giant 30-billion-euro emergency aid mechanism for debt-plagued Greece in a special weekend meeting, Reuters reported today.

The ministers stressed Athens had not asked for the plan to be activated yet.

Together with at least 10 billion euros expected from the International Monetary Fund in the first year, it could add up to the biggest multilateral financial rescue ever attempted, Reuters said.

Greece has to find around 11.5 billion euros by next month to meet its financial obligations. Its total debt stands at nearly 300 billion euros.