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Topics: bailout, Greece

Saturday, 13 March 2010

image for Greece To Be Bailed Out - UK, Germany to Take 30% Share

After weeks of worsening economic news, Greece has been bailed out in a controversial scheme that will see the UK and German governments both take 30% of shares in the country. RBS-chief, Stephen Hester, has also been installed as the new Prime Minister as part of the deal.

The country, famed for its ancient culture, salads and rusting ferries, has been hit by a series of aftershocks from the collapse of the world economy. "It really started to hit us last summer," said Athens-based economist Davos Economicos, "Once middle-class English kids could no longer afford to go island-hopping, we were screwed"

The package, said to be worth £25bn, will be invested primarily in infrastructure such as roads, railways and takeaway pizza and gryos bars.

Mr. Hester's appointment is controversial, not least down to rumours that up to 60% of the aid package is being set aside for his bonus. "I'm worth it," he told The Spoof, "I'm just worth it"

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