Greece prepares measures for formal loan extension

Greece’s government prepared reform measures on Sunday to secure a financial lifeline from the euro zone, but was attacked for selling “illusions” to voters after failing to keep a promise to extract the country from its international bailout.

Leftist Prime Minister Alexis Tsipras has insisted Greece achieved a negotiating success when euro zone finance ministers agreed to extend the bailout deal for four months, provided it came up with a list of reforms by Monday.

Greeks reacted with relief that Friday’s deal averted a banking crisis which fellow euro zone member Ireland said could have erupted in the coming week. This means Tsipras has stood by one promise at least: to keep the country in the euro zone.

Tsipras maintains he has the nation behind him despite staging a climbdown in Brussels. Under the deal, Greece will still live under the EU/IMF bailout which he had pledged to scrap, and must negotiate a new program by the early summer.

“I want to say a heartfelt thanks to the majority of Greeks who stood by the Greek government … That was our most powerful negotiating weapon,” he said on Saturday. “Greece achieved an important negotiating success in Europe.”.

The post Greece prepares measures for formal loan extension appeared first on Forex Circles.

Source:: Greece prepares measures for formal loan extension

About the Author
Forex Alchemy is your daily source of cutting edge information, tips, tools, articles, analysis from across the Forex trading industry. If you would like to guest post or contribute regular articles on Forex Alchemy then please contact us here.

Related Posts

Leave a Reply

*