Crunch day for Greece.<br/> <br />Euro zone finance ministers meeting in Brussels are due to agree on a second bailout for Athens - which it desperately needs to avoid bankruptcy.<br/> <br />Greek Finance Minister Evangelos Venizelos was in a confident mood.<br/> <br />SOUNDBITE: Greek Finance Minister, Evangelos Venizelos, saying (English):<br/> <br />"We are here, ready to conclude today this long process on the new Greek programme, and also we are ready to initiate the official procedure on the PSI. I am optimistic, but in any case we need the clear political approval from the Eurogroup."<br/> <br />It's hoped the approval of the rescue package will put an end to months of turmoil that has shaken the euro zone.<br/> <br />But ahead of the meeting there was still some work to be done to make the figures add up, said Chairman of the Eurogroup, Jean-Claude Juncker.<br/> <br />SOUNDBITE:Jean-Claude Juncker, Chairman of the Eurogroup, saying (German):<br/> <br />"We will have to talk about the total volume of the second programme, we can't exceed 130 billion."<br/> <br />Greece's debts currently stand at around 160% of GDP.<br/> <br />Its international lenders, Europe, the ECB and the IMF have looked into how high that debt will be after a bond swap with the private sector.<br/> <br />Some sources have said they expect the debt to GDP ratio to remain at around 129%.<br/> <br />German Finance Minister Wolfgang Schaeuble.<br/> <br />SOUNDBITE: German Finance Minister, Wolfgang Schaeuble, saying (German):<br/> <br />"We still need clarity on the involvement of private creditors about a programme that makes sure that Greece does not exceed a debt level of 120 percent of GDP by the year 2020."<br/> <br />With the worsening state of the Greek economy new measures are already needed to make the rescue package work.<br/> <br />But euro zone ministers say the bailout will help restructure Athens' huge debts, make it more finanically stable and keep it inside the euro.<br/> <br />Joanna Partridge, Reuters
