Eurozone,IMF Agree on New Deal

Eurozone,IMF Agree on New Deal(Brussels) – Eurozone finance ministers struck a new deal with the IMF to slice more than 40 billion euros ($52 billion) off Greece’s massive debt burden by 2020; in turn freeing up long-blocked loans. “The decision will certainly reduce the uncertainty and strengthen confidence in Europe and in Greece,” said European Central Bank President Mario Draghi welcoming the agreement.
In a key step towards restoring financing to Athens, Greece’s public creditors agreed to take measures to bring down the country’s debt-to-GDP ratio. The ministers have also agreed to release 43.7 billion euros after months in which Greece was starved of bailout financing.

Posted on Nov 28 2012. Filed under Business, Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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