So this is how you rescue a country. Eurozone leaders reached an agreement on how to approach Greece’s debt problem following an earlier breakthrough deal made between France and Germany. The Eurozone agreement involves other euro-member states and the International Monetary Fund providing loans and cash to the Mediterranean country for debt-relief assistance. If the rescue plan is enacted, loans according to capital shares in the European Central Bank would be provided by Eurozone countries, meaning Germany would offer most of the loans. The Franco-German agreement gave the IMF a major role and allowed talks to continue.
Read it at Financial Times
