[Published: Monday August 20 2018]
 Greece emerges from eurozone bailout
ATHENS 20 Aug (ANA) - Greece has successfully completed a three-year eurozone bailout programme worth € 61.9bn (£ 55bn; $ 70.8bn) designed to tackle its debt crisis.
After the biggest bailout in global financial history, totalling more than € 260bn, the country will be paying loans off for several decades.
But for the first time in eight years, it can borrow at market rates.
As a condition of the loans, the government was forced to introduce deeply unpopular austerity measures.
The economy has grown slowly in recent years and is still 25% smaller than when the crisis began.
The € 61.9bn was provided by the European Stability Mechanism (ESM) in support of the Greek government's efforts to reform the economy and recapitalise banks.(ANA)
FA/ANA/20 August 2018---------
|
Palestine/Drink