Happens In Greece The economic crisis from another point of view

Eurogroup releases 130 billion euro bailout loan to Greece!

After many hours of negotiations, the Eurozone finance ministers reached an agreement this morning, for the "haircut" of Greek debt by 53.5%.

In addition the second support package of 130€ billions was also approved by the Euro-group.

It should be noted that the "haircut" was much lower than the 70% that initially discussed and the exchange of the bonds will start in the next few days.

With the new support package of 130€ billions, the Greek debt will be formed in 2020 to 120.5% of GDP, slightly above the 120% which countries such as Germany, the Netherlands and the IMF wanted.

photo source: YVES HERMAN, REUTERS

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