Greece Set for Second Bailout
Having pulled off the biggest debt restructuring deal ever, Greece is on track for yet another bailout. Meanwhile, the Greek government is also preparing to make yet another round of austerity cuts, which may involve lowering the nation's minimum wage.
Having pulled off the biggest debt restructuring deal ever, Greece is on track for yet another bailout. Meanwhile, the Greek government is also preparing to make yet another round of austerity cuts, which may involve lowering the nation’s minimum wage. –KA
Your support matters…BBC:
In a statement after a conference call of finance ministers, Jean-Claude Juncker, president of the 17-nation Eurogroup, said “the necessary conditions are in place to launch the relevant national procedures required for the final approval” of its bailout.
Mr Sarkozy, who faces an election next month, added: “I would like to say how happy I am that a solution to the Greek crisis, which has weighed on the economic and financial situation in Europe and the world for months, has been found.”
Holders of 85.8% of debt subject to Greek law and 69% of its international debt holders agreed a debt swap, according to the Ministry of Finance.
Athens needed to get 75% to push through the deal, which is a condition of Greece’s latest bailout.
Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
TD Original
An historic progressive coalition looks to change the course of politics on the island.
Social Justice
As many as 70,000 child care centers are projected to close in the next several months as pandemic-era federal funding ends, pushing an industry already in crisis to a breaking point.
The budget proposal offers a terrifying preview of what we can expect from Trump if he wins another four years in office.
The former mayor of South Bend, Indiana, draws fire for claiming it's "not fashionable in progressive circles" to talk about the deficit.
Iraqis are demanding an end to corruption and sectarianism, while also objecting U.S. troops and Iranian influence.
From Chile to Iraq, popular uprisings against austerity and corruption are spreading like wildfire at a crucial point in history.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.