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European Leaders Reach Deal to Resolve Greek Debt Crisis |
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European leaders have reached a deal to resolve Greece’s debt crisis and avert a historic fracture in the Continent’s common currency project. “EuroSummit has unanimously reached agreement", according to Donald Tusk, the president of the European Council. The new bailout for Greece would involve serious reforms & financial support. The agreement, whose details have not yet been described, aims to provide Greece with its third bailout package in five years. The tough terms, demanded by Germany and others, are meant to balance Greece’s demands for a loan repayment system that will not keep it mired in recession and austerity budgets, against creditors’ insistence that loans worth tens of billions of euros would not be money wasted. |
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