German and French leaders have come to a consensus over the second bailout for Greece in a move to avert crisis for the whole Europe and the world.

After 7 hours of talks between German Chancellor Angela Merkel and French President Nicolas Sarkozy in Berlin. European Central Bank President Jean-Claude Trichet was present for part of their talks.

Now their decision will be presented to crisis summit in Brussels on Thursday starting at 1100 GMT of all 17 leaders of the bloc.

The new bailout would supplement a 110 billion euro ($156 billion) rescue plan for Greece launched in May last year. It is expected to include fresh emergency loans to Athens from euro zone governments and the International Monetary Fund, and possibly a range of other measures.