(Image Source: The Independent)

 

BY DAN KENNEDY

ANCHOR LAUREN GORES

 

European finance leaders have agreed to cut Greece’s debt by more than 50 billion US dollars in a bid to kickstart the struggling economy.
Here’s WTOC.

“The 17 European Union nations that use the euro have struck a deal with the International Monetary Fund... The agreement puts Athens on the way to get the next installment of its much needed bailout loans.”

The new deal will cut more than 40 billion euros off Greece’s massive debt burden by 2020.
The Greek prime minister says the deal signals a new day for his country.
But one European economist tells Sky News he isn’t so optimistic.

“Frankly it does look as if other countries, the ECB all scrambling down around the back of a sofa trying to find a bit more money to buy another sticking plaster for Greece. I don’t think it really addresses the country’s fundamental problems.”

According to TIME Magazine, “even if this latest agreement is far from perfect, it is -- amazingly -- a positive sign. The veil of delusion that has hampered Europe’s willingness to tackle the Greek problem seems to be lifting, and the commitment to taking potentially politically difficult decisions appears to be building.”

The European Central Bank and the IMF were also a part of negotiations.
They, along with the EU, say the bailout won’t just benefit Greece.
Here’s The Independent.

“The aim of the bailout program is to help Greece into a position where it can raise money independently on debt markets... say the agreement will benefit both the Greek economy and the European Union as a whole.”

The first disbursement of funds is set for December 13.
The Greek economic crisis began in 2008.

Greek Debt Deal Examined

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Transcript
Nov 27, 2012

Greek Debt Deal Examined

(Image Source: The Independent)

 

BY DAN KENNEDY

ANCHOR LAUREN GORES

 

European finance leaders have agreed to cut Greece’s debt by more than 50 billion US dollars in a bid to kickstart the struggling economy.
Here’s WTOC.

“The 17 European Union nations that use the euro have struck a deal with the International Monetary Fund... The agreement puts Athens on the way to get the next installment of its much needed bailout loans.”

The new deal will cut more than 40 billion euros off Greece’s massive debt burden by 2020.
The Greek prime minister says the deal signals a new day for his country.
But one European economist tells Sky News he isn’t so optimistic.

“Frankly it does look as if other countries, the ECB all scrambling down around the back of a sofa trying to find a bit more money to buy another sticking plaster for Greece. I don’t think it really addresses the country’s fundamental problems.”

According to TIME Magazine, “even if this latest agreement is far from perfect, it is -- amazingly -- a positive sign. The veil of delusion that has hampered Europe’s willingness to tackle the Greek problem seems to be lifting, and the commitment to taking potentially politically difficult decisions appears to be building.”

The European Central Bank and the IMF were also a part of negotiations.
They, along with the EU, say the bailout won’t just benefit Greece.
Here’s The Independent.

“The aim of the bailout program is to help Greece into a position where it can raise money independently on debt markets... say the agreement will benefit both the Greek economy and the European Union as a whole.”

The first disbursement of funds is set for December 13.
The Greek economic crisis began in 2008.

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