Greece Asks for Activation of Aid Plan

Greece on Friday asked for the activation of a joint eurozone-International Monetary Fund rescue package.
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Updated from 6 a.m. EDT

ATHENS (

TheStreet

) -- Greece formally asked for the activation of a joint eurozone-International Monetary Fund rescue package.

Prime Minister George Papandreou made the announcement asking for the activation of the plan Friday morning.

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The rescue package will provide Greece with loans from other eurozone countries of 30 billion euros at interest rates of about 5% and about 10 billion euros from the IMF, the

Associated Press

reports.

-- Reported by Joseph Woelfel in New York.

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