Greece's Bailout Deal Reached
The Eurozone Finance Ministers reached an agreement after bailout talks in Brussels. The Ministers agreed to extend aid to Greece for four months, Bloomberg reports. With this agreement the risk of Greece running out of money is removed.
As Reuters reports the Eurozone officials said that this accord requires Greece to submit a list of measures on Monday that the country will undertake in return.
"It certainly looks like we are moving away from disaster. It should help a stress that has been building up in the market to be released," - a foreign exchange analyst at Societe Generale, Sebastien Galy said, BBC reports
Other materials on this subject
- Greece Emerges from Eurozone Bailout Programme The economy has grown slowly in recent years and is still 25% smaller than when the crisis began.
- Greece Can be Competitive Once Makes Reforms: Schaeuble Greece can have a competitive economy once it makes reforms agreed with its euro zone creditors, German Finance Minister Wolfgang Schaeuble said on Monday.
- Greek Unemployment Rises to 23.4 Percent in August, Eurozone Highest Greece's unemployment rate has come down from record highs but remains more than double the euro zone's average of 10 percent in August.
- Eurogroup to Disburse 10.3 bln Euros to Greece The Eurogroup also recalled the medium-term primary surplus target for Greece at 3.5% of GDP as of 2018 and underlined the "importance of a fiscal trajectory consistent with the fiscal commitments under...
- 48-Hour Strike Began in Greece Public transport workers joined the strike. Today and on Saturday in the Greek capital metros, trolley buses and trams will not work.
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