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Merkel says Greece needs debt programme lasting 'several years'

AFP
German Chancellor Angela Merkel said that Greece needs a new debt programme lasting several years, not a short-term fix to get it through the immediate crisis

German Chancellor Angela Merkel said Tuesday that Greece needs a new debt programme lasting several years, not a short-term fix to get it through the immediate crisis.

"We need a programme over several years which goes way beyond the programme we discussed 10 days ago" on a bailout extension through to November, Merkel said after an emergency summit of eurozone leaders on Greece's future in the single currency zone.