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November 23, 2017

Grexit : New Bailout Packet approved

Negotiations in Brussels have resulted in a new bailout deal for Greece. Although tough negotiations still lie ahead for the financial crisis to actually end.

After sixteen hours of tough talks, EU President Donald Tusk tweeted that a unanimous agreement on a programme which included serious reforms and financial support between the leaders of the EuroZone had been agreed.

Whereas, German Chancellor Angela Merkel was quoted to having been said that a new relatioinship had to built following months of vigorous talks.

However, she quipped that future funding would beconditional on the continued involvement of the IMF.

Greece has earlier tried to block the any scenarios in which the IMF can be directly or indirectly involved.

On the other hand, Greeks were left wondering what happened to their negative vote to austerity measures. Many of them were furious on the role of Germany who insisting on austerity for the return of monetary help.

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