Financial Times FT.com

Eurozone works on rescue plan for Greece

By Joshua Chaffin in Brussels, Ben Hall in Paris, Kerin Hope in Athens and Gerrit Wiesmann in Berlin

Published: March 12 2010 20:24 | Last updated: March 12 2010 20:24

Members of the eurozone are working on the details of a possible bail-out for Greece ahead of a meeting in Brussels on Monday, although obstacles to a final agreement have yet to be overcome, according to several officials.

The discussions have moved into high gear ahead of the gathering of finance ministers from the 16 European Union member states that use the euro. Speculation has risen that the meeting could yield an agreement to support the embattled Greek government with bilateral loans or loan guarantees as it tries to roll over as much as €55bn ($75bn, £49bn) in maturing debt through the remainder of the year. Some €20bn will come due in April and May alone.

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