The Eurozone and Greece reached a debt bailout agreement

Greece’s international creditors have bought time to secure the country’s financial future after agreeing broad but inexact principles ease its debt mountain and break a deadlock between Germany and the International Monetary Fund. The agreement that will allow the release of 10.3 billion euros ($11.5 billion) of aid and committed to relieving the nation’s 321 billion euros of debt. At a meeting of euro-area finance ministers in Brussels.
The creditors agreed to a wide-ranging settlement to secure debt relief for Greece, after marathon talks in Brussels tonight. Creditors have decided on means to afford short, medium and long-term debt restructuring on Greece’s 180 percent debt.
The euro zone provided Greece its most definite offer yet of debt support in what finance ministers called a breakthrough deal that won a pledge from the IMF finally to return to taking part in the bailout for Greece.
But the debt relief scheme was a FarCry from the “upfront” and “unconditional” debt relief the IMF had demanded on Monday when it warned that Greece would face an ever-growing debt.
It has been a defining point of the bailout of Greece by the Eurozone and International Monetary Fund that the creditors. Extending another lifeline to Greece is the right measures years later than they should.
Fearing a repeated crisis in Greece that could set off financial shock waves, leaders across three continents have struggled to strike a deal to ease Greece’s debt burden.
The IMF is still fighting the good fight about economic reality over the Greek debt crisis. They are declaring, as they should be, that the debt is simply too big to be served. Therefore, that debt needs to be cut.
Source .bomarktfuhrer.com/ Archive

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