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Euro Zone Strikes Greece Bailout Deal

Financing of 130 billion euros.

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Milos Bicanski / Getty Images

Though euro-zone ministers stayed behind locked doors until the early hours of Tuesday, they finally reached an agreement on Greece’s second bailout. Finance ministers approved the €130 billion in new financing and a goal of cutting the nation's debt to 121 percent of GDP by 2020. Earlier, talks hit another snag, as the IMF and EU demanded private creditors be hit even harder than predicted. Meanwhile, the Greek people are still furious about the €3.3 billion in spending cuts and tax hikes they’ll have to absorb. Several thousand demonstrators took to the streets protesting cuts Sunday.

Read it at Reuters

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