Prime Minister George Papandreou asked for the activation of an EU/IMF aid package

Welcome back...Greece has asked the European Union and the International Monetary Fund to trigger its package of 45-Bbilion euros in emergency loans in what could be the largest state bailout ever attempted. After months of severe cost-cutting measures aimed at reducing the Greek budget deficit, and growing pressure from financial markets Prime Minister George Papandreou asked for the activation of an EU/IMF aid package to pull the country out of its debt crisis.