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Monday, July 13, 2015

Eurozone and Greece Reach Bailout Deal

It looks like Greece dodged a bullet (at least temporarily) this morning as the debt-ridden country reached a bailout deal.

According to Japan Today:
BRUSSELS —Greece reached a desperately-needed bailout deal with the eurozone on Monday after marathon overnight talks, in a historic agreement to prevent the country crashing out of the European single currency. 
The country’s leftist Prime Minister Alexis Tsipras agreed to tough reforms after 17 hours of gruelling negotiations in return for a three-year bailout worth up to 86 billion euros ($96 billion), Greece’s third rescue program in five years. 
EU President Donald Tusk announced the deal for debt-stricken Greece on Twitter, ending a bitter six-month struggle between Tsipras’s anti-austerity government in Athens and the rest of the eurozone. 
“EuroSummit has unanimously reached agreement,” former Polish premier Tusk said. “All ready to go for ESM program for Greece with serious reforms and financial support.”
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