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Greece May Tap Aid From Both Rescue Packages, Sueddeutsche Says

Unused money from Greece’s first bailout in 2010 will be transferred to the country’s second rescue package to create a 165 billion euro ($219 billion) financial war chest, the Sueddeutsche Zeitung reported.

About 35 billion euros remain from the May 2010 rescue package, the newspaper reported, citing calculations of Germany’s opposition Social Democratic Party.

European Union officials earlier indicated that the money would be used to bolster the temporary euro-area wide rescue fund and not shifted to Greece’s second aid package, the newspaper cited SPD budget spokesman Carsten Schneider as saying.

To contact the reporter on this story: Brian Parkin in Berlin at bparkin@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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