Summary Box: Euro countries approve aid for Greece

The Associated Press
Luxembourg's Prime Minister Jean-Claude Juncker pauses before speaking during a media conference after a meeting of eurozone finance ministers at the EU Council buidling in Brussels on Monday, March 12, 2012. The 17 euro countries are trying to focus on issues beyond the Greek crisis and deal with longer-term issues in their currency union. Finance ministers, meeting in Brussels on Monday, will discuss Spain's high deficits and potentially dangerous imbalances in other countries. (AP Photo/Virginia Mayo)

DONE DEAL: Countries in the 17-nation eurozone on Wednesday formally approved a second bailout for Greece and authorized the release of an initial $51.44 billion, as they had signaled last week.

THE DETAILS: Jean-Claude Juncker, prime minister of Luxembourg and chairman of meetings of eurozone finance ministers, said the bailout fund will disburse the money in several installments. Finance Minister Evangelos Venizelos has said that Greece stands to receive a total of $225.6 billion in bailout funds over the next few years.

WHAT'S NEXT: Despite the bailout and the bond swap debt relief deal with private creditors, Greece is expected to have a tough time returning the economy to growth.