Greece 'turning a page' as eurozone agrees deal to end financial crisis

Source: The Guardian

Greece’s government has said the country is “turning a page” after eurozone member states reached an agreement on the final elements of a plan to make its massive debt pile more manageable, ending an eight-year bailout programme.

“I have to say the Greek government is happy with this deal,” the finance minister, Euclid Tsakalotos, said on Friday. “But at the same time, this government will not forget what the Greek people went through in the past eight years.”

The government spokesman, Dimitris Tzanakopoulos, hailed “a historic decision” that meant “the Greek people can smile again”. Financial markets rallied, with the country’s benchmark 10-year bond easing 0.2 points and the main stock index up 1.6%.

The plan allows Greece to extend and defer repayments on part of its debt for another 10 years and gives Athens another €15bn (£13.2bn) in new credit. Tsakalotos said it marked “the end of the Greek crisis … I think Greece is turning a page.”



Read more: https://www.theguardian.com/world/2018/jun/22/eurozone-greece-financial-crisis-deal