Greece Emerges from Eurozone Bailout Programme
Greece has successfully completed a three-year eurozone bailout programme worth €61.9bn designed to tackle its debt crisis, BBC reports.
After the biggest bailout in global financial history, totalling more than €260bn, the country will be paying loans off for several decades. But for the first time in eight years, it can borrow at market rates.
As a condition of the loans, the government was forced to introduce deeply unpopular austerity measures.
The economy has grown slowly in recent years and is still 25% smaller than when the crisis began.
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- 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.
- Greece to Launch a New Round of Bailout Talks Following pressure from bailout creditors, the government has committed to overhaul the country’s pension system, which, it admits, is otherwise moribund.
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