The buzz out of Brussels – IMF, Eurogroup reach $57.8 billion deal on Greek debt
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Posted: 8:45 pm, November 26, 2012 by Amy Canter

A statement after nearly 13 hours of talks, Greece‘s international lenders (the International Monetary Fund and the ECB) agreed to reduce Greek debt by 44.5 billion euros. The eurozone said Tuesday it will be in a position to re-start the paying out of some €44.6 billion ($57.8 billion) in loans to Greece from December 13.

Eurogroup President Jean-Claude Juncker has just started the press conference with the news that a deal has been reached. The full press conference is here.

Mario Draghi, President of the European Central Bank, said markets should pay heed. “It will certainly reduce the uncertainty and strengthen confidence in Europe and in Greece.”

In Athens, Prime Minister Antonis Samaras welcomed it as a great victory. “As Greeks, we fought together. And tomorrow a new day begins for all Greeks.”

The so-called troika of the European Central Bank, IMF and the European Commission, which is the 27-country EU’s executive arm, have twice agreed to bail out Greece, pledging a total of €240 billion ($310 billion) in rescue loans — of which the country has received about €150 billion ($195 billion) so far.

Έλενα Λαγαρία

Posted in: STARTUPS

Tags: ECB,eurozone,featured,Greece,IMF,International Monetary Fund

About the author: Amy Canter

Amy is a journalist and digital strategist with more than a decade of experience with the designing, editing and writing websites for both broadcast and print media. Previously, Amy worked for major companies in Silicon Valley, including Sony Electronics, Hewlett-Packard, Yahoo, and Intel working in various marketing, social media, and community management roles.

http://lenticularimageprinting.com/ Lenticular Image Printing

I just wanted to say my thanks for the information provided here.
Matina

‘Greece Wants One Direction Desperately’.. because they have money?
Becky

ANOTHER bailout deal for Greece. What could go wrong? Also, congrats U.S. taxpayer, you’re bailing out Greece through the IMF.
jonathen

Greece finally gets a deal even they can pay….no interest payments for a decade.
james

Greece accord seems like a yawn, but short term it provides stability and buys more time for EU restructuring.

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