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Angela Merkel gets her way as EU leaders back her safety-net plan for Greece

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Michael BärMarch 26, 2010

German Chancellor Angela Merkel has won backing from EU leaders for her plan for a financial safety net for Greece. Merkel insisted that the Washinton-based International Monetary Fund be involved in any rescue for Athens -- facing down opponents who said EU institutions should have sole responsibility. The plan would also see individual eurozone member states making bilateral loans to Greece. All sides stressed they hoped the plan would never have to come into effect - and would instead send a signal to the markets that Greece will never default on its debts.

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