Is the Greek Issue Solved?

• 07.13.2015, 19:02
•  Europe,  World

The EU leaders Summit on Greek issue, which began on Sunday evening, and continued throughout Monday morning, lasting for almost 17 hours, has finally concluded, with a unanimous agreement reached in exchange for serious of reforms.

"There are strict conditions to be met," the president of the European Council, Donald Tusk said, adding that it gives Greece a chance to get on back to the track with the support of European partners.

The European leaders had seriously clashed over the deal to rescue Greece, with Germany and Finland taking a hard-line and the leaders of France and Italy expressing a distinct sense of unease over the German position — worried that it was undermining the European ideal.

However, according to the Eurogroup draft, Greece’s financing needs are estimated to be between 82 and 86 billion euros. Under this proposal Greece will receive 7 billion by 20^th of July and fanother 5 billon euros by mid August.

"At the end of this tough battle, we won the restructuring of debt and funding for the medium term," Greek Prime Minister declared , adding that a 35 billion euro growth package, along with debt relief and a three-year funding program, would convince investors "that Grexit is a thing of the past," Tovima reports.

While the PM admitted that the measures will be difficult to implement, he was hopeful that with the financial stability to come, there will be a prospect of recovery. He added that the burden will be distributed according to social justice and stressed that they sent a message of dignity to Europe and the whole world.

"We faced hard decisions, we gave a tough battle for six months and fought until the end in order to achieve the best we could, a deal that would allow Greece to stand on its feet," he said.

According to The New York Times, Tsipras concluded with the words that the Greeks would keep striving for a return to growth to win back their national sovereignty.

As for the European leaders and their position, German Chancellor Angela Merkel told that if the program was strictly followed, there would be a possibility to return to the growth path.

"All and all, I think you can say the advantages outweigh the disadvantages," Merkel said. And her French counterpart Francois Hollande told that France was looking for such an agreement and wanted one".

"Greece will stay in the eurozone. Europe has won," Reuters cites the French President .

"The agreement was laborious, but it has been concluded. There is no Grexit," in his turn emphasized the European Commission President Jean-Claude Juncker.