Eurozone finance ministers approved a €110bn package of emergency loans for Greece on Sunday, €80bn of which will be provided by eurozone countries, and the rest from the IMF. The loans will be co-ordinated by the European Commission, with up to €30bn of the eurozone loans available in the first year.

The FT reports that Germany is in disagreement with other eurozone members over how much interest to charge Greece, if it needs the emergency loans package agreed at the EU summit last month. Most eurozone nations are prepared to offer loans at 4 to 4.5 percent, the rate paid by the eurozone's other big debtors, Ireland and Portugal, but Germany says Athens should pay 6 to 6.

Europe's leaders remained locked in dispute yesterday over the size of the eurozone bailout funds, as it emerged Germany is pushing for Greece to be stripped of powers to control its budgets.

Eurozone finance ministers approved a €110bn package of emergency loans aimed at averting a sovereign default by Greece and preventing a confidence crisis spreading to countries such as Spain and Portugal

Germany is at loggerheads with other eurozone countries over how much interest to charge debt-ridden Greece if it calls on the emergency loans package agreed in Brussels last month

Eurozone finance ministers yesterday agreed on a €30bn loan commitment to Greece over the next year to help manage its debt crisis, as part of a three-year commitment, with the IMF potentially providing another €15 billion. Greece has not yet asked for the loans, but if put into action the agreement would be the biggest multilateral financial rescue ever attempted.

Brown under pressure from MPs to ensure only eurozone countries contribute to a bail-out of Greece.

Those who suggest Greece might leave the eurozone are like Homer's sirens. Greece will not be tempted by these short-term options, but will undertake the necessary, bold adjustments, writes George Provopoulos

European Union leaders issued a statement on Thursday saying Greece had to do everything it could to reduce its budget gap of 12.7% of GDP to below the EU ceiling of three percent in 2012, including a four percentage point cut this year. Eurozone finance ministers will put pressure on Greece today (15 February) to fully implement planned budget deficit cuts and avoid any bailout. External Links:&n...

Brown under pressure from MPs on all sides to ensure that only eurozone countries contribute to a bail-out of Greece.