Economic news

Greece succeeds with emergency euro zone bailout

Greece has coped with a €61.9 bln loan program issued as an emergency that lasted three years and directed for recovery from the debt crisis.

Photo: Yannis Behrakis/Reuters

A building block in the greatest bailout the history has ever known with the total amount of funds involved at €289 bln, which will require long years for Athens to pay back.

The rate of economic expansion has been sluggish in the past years, with the economy a quarter less than at the onset of the crisis. Stipulated by the program restrictions for public expenditures, though extremely opposed by Greek population, will stay in place.

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