BUSINESS
10/21/2011 06:33 EDT | Updated 12/21/2011 05:12 EST

Merkel says Germany and France broadly agree on debt deal despite need for second summit

BRUSSELS - Eurozone finance ministers say Greece will get its next batch of aid money, likely by mid- November, saving the country from a potentially disastrous default.

The ministers said Friday that Greece would get the next €8 billion ($11 billion) batch as long as the International Monetary Fund signs off on its part in coming weeks.

The ministers also said that they were working on a second rescue package for the debt-ridden country, which would include new aid money and contributions from the private sector.

They did not give details on the new package.