Greek deal reached at last

Donald Tusk

No Grexit in sight. After a “tough battle”, Greece secured a “growth package” of €35billion, PM Alexis Tsipras said, and won debt restructuring. Everything is ready now for an ESM bailout in exchange for a package of reforms. The IMF will join the third rescue in March 2016.

The agreement included a €50billion Greece-based fund that will privatise or manage Greek assets. €25billion would be used to recapitalise Greek banks, which have been closed for two weeks, putting the economy under heavy strain.

The ultimatums given to Athens were highly critizised on social media under the hashtag #ThisIsACoup, trending globally on Monday morning.

 

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