Public hospitals’ health workers, wearing a tie, sit by a wall they built in front of the Finance Ministry in Athens, next to a banner reading “ministry of unfulfilled commitments.”
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
After months of wrangling, Greece's creditors granted the struggling nation an 8.5 billion euro ($9.5 billion) aid payment and committed to debt relief if needed, putting an end to the latest round of political bickering.The accord, reached by euro-area finance ministers in Luxembourg Thursday, will cap Greece's gross financing needs at 15 percent of gross domestic product for the medium term and at 20 percent thereafter, while extending maturities and deferring the interest payments on some bailout loans by as much as 15 years.Can Greece now be included in the ECB's QE program?Without the IMF's agreement that the debt is sustainable, Greece cannot have its bonds included in European Central Bank's bond-buying program known as quantitative easing, a promise Tsipras' government has been making for months and a move that would lower Greece's borrowing costs.So, will Greece be able to sell bonds again?Creditors, however, gave Greece a payout that includes a buffer, boosting the nation's liquidity, which could help if it tries to tap the debt market.While this agreement means that creditors won't have to make a decision on substantial debt relief until the end of the current program next year, 37 years is a long time to maintain such targets.
FOLLOW THIS ARTICLE