03 Jul 2017

showCASE 33 | The Greece’s “In Principle” bailout

Greece may finally be facing some temporary relief in its long-running fiscal saga, albeit at the expense of European taxpayers. After a long game of “chicken” with the European Union (EU), on June 15th the International Monetary Fund (IMF) swerved first and acquiesced to the EU’s demands by approving the bailout “in principle”. This move finally unlocked bailout funds from the EUR 86 billion-rescue package, funds which are essential for Greece to continue fulfilling its domestic liabilities and fund a EUR 8.5 billion debt repayment in July. 

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Photo: Reuters