Greece is saved Eurozone summit strikes deal
119 views · Published 13 July 2015 · 2:00 · Indexed 15 October 2026
Channel: Real Thing TV · 2015 · News & Politics
Greece is saved for now. Greece debt crisis: Eurozone summit strikes deal. Eurozone leaders have agreed to offer Greece a third bailout, after marathon talks in Brussels. Amid one of the worst crises in the EU's history, the head of the European Commission said the risk of Greece leaving the eurozone had been averted. Greek Prime Minister Alexis Tsipras said that after a "tough battle", Greece had secured debt restructuring and a "growth package". The bailout is conditional on Greece passing agreed reforms by Wednesday. These include measures to streamline pensions, raise tax revenue and liberalise the labour market. An EU statement spoke of up to €86bn (£61bn) of financing for Greece over three years. Though it included an offer to reschedule Greek debt repayments "if necessary", there was no provision for the reduction in Greek debt - or so-called "haircut" - that the Greek government had sought.
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