Greek final bailout deal

Ringing in the end of the Greek debt crisis – that”s what Eurozone ministers said they”ve accomplished, after they agreed on the final elements of what”s been an 8 year bailout program:A hardfought compromise, as talks went into the wee hours…But one that for Europe”s economy commisioner is monumental: SOUNDBITE) (French) EUROPEAN COMMISSIONER FOR ECONOMIC AND FINANCIAL AFFAIRS, PIERRE MOSCOVICI, SAYING: Firstly it”s a historic moment for Greece because Eight years of reforms and sacrifices are coming to an end, a new chapter may follow….it is also a final point it”s a symbolic moment in an existential crisis for our single currency, The deal lays out how Greece can re-enter the bond markets , at the end of its final bailout program on August 20th. To do successfully, Greece needs to prove to investors that its debt is managable. And to help that process along, 19 eurozone ministers agreed to (DLS) push back the repayment of 96 billion euros in loans by 10 years.As well as give Greece a 15 billion euro injection. That adds to the some 275 billion it has received since the crisis broke in 2010…Greece can also get cash paymets of 600 million euros every six months until 2022. A deal that for the nation”s finance minister, will give Greece the cushion and security it needs to promote growth . . (SOUNDBITE) (English) GREEK FINANCE MINISTER, EUCLID TSAKALOTOS, SAYING: “I think it is the end of the Greek crisis, I think Greece is turning a page, I think that it has all the building blocks there to leave the program with confidence that we can access the markets, that we can implement our growth strategyTo make the deal possible, , Greek lawmakers pushed through a last batch of austerity measures – that despite protests…and th nation will remain under the watchful eye of its creditors long after this summer”s bailout conclusion. ;
Source: AFP

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