BBC News - Greece calls on EU-IMF rescue loans

Greece has formally asked for the activation of an EU-IMF financial rescue package to help pull the debt-ridden economy out of its crisis. It had hoped that just the promise of EU support, agreed last month, would have been be enough to reassure markets and help its recovery. But Greece's problems have continued to hit investor confidence in the euro and other European economies. Eurozone countrie

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"The market's relatively modest reaction to the news that Greece was formally requesting aid from the EU and IMF was a clear sign that the market still believes that Greece will be forced to restructure its debt even with a bail-out," said BNY Mellon's Simon Derrick