Zimbabwe Broadcasting Corporation

Eurozone finance ministers have sealed a 130-billion-euro bailout for Greece to avert a chaotic default next month.

Chairperson of the Euro group of finance ministers, Jean Claude Junker, said they reached an agreement on Greece's new programme and private sector involvement that would lead to a significant debt reduction for Greece.

Reports, however, say the austerity measures taken are unpopular among Greeks and may hold difficulties for a country which is due to hold an election next month.

Some of the measures require cutting wages, pensions and jobs.

Economists say a return to economic growth could take as much as a decade, a prospect that brought thousands of Greeks onto the streets to protest against austerity measures on Sunday.

Comments (0)

Name

Comment

smaller | bigger

I have read and agree to the Terms of Usage.

Write the displayed characters

Add Comment