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Aid for Greece

Reports have suggested that the EU will pump in money to help Greece manage its spiralling public debt of approximately €300bn.

Greece is among a list of countries, including Ireland, Spain, Portugal and Italy, which together account for 40pc of the Eurozone's debt.

The EU's Stability and Growth Pact states that no nation in the bloc should have an annual budget deficit higher than 3pc of its gross domestic product.

Greece aims to shrink public debt to 9.1pc of overall economic output this year, down from 12.7pc last year.