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Monday, March 2, 2015

Greece secures eurozone bailout extension for four months

Proposed reforms win conditional approval in Brussels for extension of rescue package that new Greek government has repeatedly pledged to scrapGreece’s new leftwing government faces months of fraught negotiations with its creditors over how to ease its unsustainable debt levels and austerity programmes after securing - but only conditionally - a eurozone lifeline on Tuesday that wins it time until the end of June.Alexis Tsipras, the Greek prime minister and leader of the Syriza movement, had to bow to German-led pressure to stick to the broad terms of its €240bn (£176bn) bailout in order to obtain a four-month extension to the rescue he repeatedly pledged to scrap. Continue reading...


READ THE ORIGINAL POST AT www.theguardian.com