by Calculated Risk on 4/23/2010 08:32:00 AM

From Niki Kitsantonis and Matthew Saltmarsh at the NY Times: Greece Calls for Activation of Financial Rescue Package

Describing his country’s economy as “a sinking ship,” the Greek prime minister formally requested an international bailout on Friday ... The plan foresees up to €30 billion, or $40 billion, in loans from Greece’s euro-zone partners, as well as up to €15 billion from the International Monetary Fund.

Not exactly a surprise ...