Greece Asks for $60 Billion Bailout

Sinking under the weight of its own debt and shunned by international investors, Greece on Friday asked fellow euro-zone members and the International Monetary Fund to bail it out, a humbling step that reshapes the rules of the currency union and, for Greece, augurs years of economic pain.

Financial markets had concluded days or even weeks earlier that the country would need a rescue, and attention turned to what comes next—how fast the money can be disbursed, if the IMF would demand tougher economic sacrifices than Greece has already made, and, crucially, whether the roughly €45 billion ($60 billion) on ...

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