Italian Prime Minister Mario Monti on Wednesday said the root of the eurozone's debt woes lay partly in the irresponsible parenting ofGermany and France during the bloc's infancy.
ATHENS — Greece received on Tuesday a first payout of 7.5 billion euros ($9.9 billion) under its second international bailout, a finance ministry official said.
Greece said on Friday it had clinched a "historic" debt swap, opening the way for an urgent second bailout to save the country from bankruptcy and the eurozone from a new crisis.
Europe delayed the release of bailout funds to Greece on Tuesday, demanding Athens make more sacrifices and warning banks may have to share more of the pain in the crisis threatening theeurozone.
German Chancellor Angel Merkel talked down the chances Tuesday that a eurozone summit will deliver the silver bullet to resolve the debt crisis as the IMF pressed leaders to take urgent action.
