RT: Greece, eurozone officials agree to extend bailout by 4 months

Published time: February 20, 2015 19:45
Edited time: February 20, 2015 20:45

Reuters / Alkis Konstantinidis

Reuters / Alkis Konstantinidis

Athens and eurozone finance ministers have struck a deal to extend the Greek bailout by another four months with Greece given till Monday to present a list of reform measures they plan to take to ensure they comply with the conditions.

It’s done! For four months,” one of the officials told AFP right after the meeting in Brussels came to an end. An hour later, the Eurogroup issued a statement confirming the deal.

The Greek authorities will present a first list of reform measures, based on the current arrangement, by the end of Monday February 23,” the statement said.

The institutions will provide a first view whether this is sufficiently comprehensive to be a valid starting point for a successful conclusion of the review. This list will be further specified and then agreed with the institutions by the end of April.”

Athens has confirmed the implementation of structural reforms and its obligations to repay the existing debt, Europgroup representative Jeroen Dijsselbloem. A deal has also been reached to provide financial assistance to Greece, which will have access to the EU financial stability mechanisms during the program to recapitalize banks.

European officials told Reuters than the deal was reached during preparatory talks involving the Greek and German finance ministers, as well as the managing director of the IMF. After that, it was agreed on by all 19 members of the Eurogroup.

The EU creditors have insisted that any extension of loans should be accompanied by Greece’s commitment to a certain set of budget measures and reforms.

The newly-elected leftist government in Athens initially asked for a six-month loan extension to get more time to renegotiate its €316 billion debt.

The Friday’s agreement removes the immediate risk of Greece running out of money as early as March, which could’ve possibly resulted in the country’s exit from the eurozone.

Greece’s current bailout loan of €240 billion was agreed by the country’s previous government in back 2012. The harsh conditions of the bailout program, which include cuts in government spending, higher taxes are extremely unpopular in Greece.

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12 Responses to RT: Greece, eurozone officials agree to extend bailout by 4 months

  1. Hegelian says:

    I don’t know why people don’t realize the politicians are all bought and sold like cattle. First, while the politicians, over the last 10 decades, let the corporations steal the pension funds of the individual, politicians still get pensions for a at most 6 years of navel gazing. No matter how bad the countries fraudulent economy is the people still have to carry the pensioned politicians who created it. They, then, expect the individual to carry the weight these politicians dropped and suffer the austerity. Most of the world has less than a grade 4 education on the banking system and the people benefitting from this system have engineered it so they keep the general population deaf and dumb to it.
    Between the Banksters, Politicians, and Corporations it is a Constructive Fraud based on a Ponzi Scheme, where they float paper IOU’s in multiple forms (Treasuries, Bonds, Dividends) to create money from nothing and float it into the form of currency which turn into entries on ledgers. They could cancel the debt anytime but who would it hurt. The people who are holding these IOU’s.

  2. Rich Pack (bamboo-water) says:

    We saw, via the videos, how some of the Greek people felt
    on Feb 15th, 2015. I Wonder how the Greek people are feeling

    Off in the distance, do I hear someone very quietly spelling

    And if so, how long will this agreement and this quiet really last?

    Jai Gurudev,

  3. fantom149 says:

    This part of the statement should show you that its all distraction from the real issue
    which is further implementation of agenda 21 (The EU creditors have insisted that any extension of loans should be accompanied by Greece’s commitment to a certain set of budget measures and reforms.) more reforms more control http://www.democratsagainstunagenda21.com/

  4. Rosie says:

    I was so hoping that Greece would tell the IMF, ECB to ***** off followed by Spain, Italy and Ireland. Perhaps they are just buying time to get a Plan B up and running.
    Have recently come across Kerry-Anne Mendoza. She has book out “AUSTERITY The Demolition of the Welfare State and the rise of the Zombie Economy”. Her blog spells out in chilling detail the effect of austerity and the trashing of democracy, globally. All the articles on her site join up lots of dots about how the 99% are being crushed out of existence by the 1%.

  5. Sacredpeaks says:

    Jean, Another update on HSBC and now UBS:

    HSBC Scandal “just the tip of the iceberg”, other banks are involved too:

    Swiss UBS Bank, investors pivot to Nashville? Suddenly the Swiss Banks and and investors are keen on investing in the US. Is this a calculated move, or is it due to less stringent U.S. financial regulations? Swiss authorities are set to impose stricter capital requirements on UBS and on February 17th French authorities issued several UBS executive and managerial arrest warrants:


    On Thursday, February 19th Bill Clinton and George W. Bush met privately with UBS CEO Bob McCann and 200-300 UBS investors in Nashville, Tennessee. Within 24 hours UBS Wealth Based Americas CEO Bob McCann announced huge investment plans in a “data center” located in the UBS Tower in downtown Nashville. What is the nature of UBS’s “rapid growth” when everything else is drying up? There seems to be a major shift in their financial strategy since the French authorities issued arrest warrants on Wednesday. Now a US whistleblower and former UBS employee is set to testify in France on UBS’s illegal activities: http://www.forbes.com/sites/janetnovack/2015/02/17/american-tax-informant-going-to-paris-to-sing-about-swiss-bank-ubs/

    Another Clinton connected/George Soros funded organization accused of fraud:

  6. liane says:

    How disappointing. Same old then.

  7. DavidG says:

    Syriza is a novice political party with bare roots going back only as far as 2001. In other countries such as UK or US these ‘baby’ parties would struggle for any traction. However in extreme circumstances such as we are witnessing now the populist voice is spoken via these agencies. How loud is the populist voice? Only as loud as the channel it chooses to speak through.
    The political game is so rigged that the populist voice will be quelled very quickly. When money talks, morals walk.
    Is Syriza different? Actually I think it is but playing the ‘fixed’ game of politics will never get any tangible goodness – Ever. It is far too broken with money being the primal desolation factor.
    The ‘God’ of money is raised above all of the wrecked lives in total misery. It is pathetic yet entirely predictable that Syriza will capitulate to the threats and cons of a European disaster model. Are we still going to play this entirely rigged and soul destroying game or play something else entirely?

  8. Ethyl says:

    Jean, here’s something I just saw; I don’t have time to read it know, but thought you would be interested. It’s another child abuse scandal coverup in Hampstead (I think it was), England. It looks like more and more of this is coming to light, while still having the covers thrown over it (more cop coverup here).


  9. vlad says:

    This is not good news !!!!
    Not only for the greeks but the other countries in the EU and the the countries of world.
    It is not like the greek government did not have other options,they could turn to Russia or China
    and have got a fresh start not only that they would of going in the right direction to the East which
    will be the future ,rather that syaying with a dying system and they will never be able to pay their
    DEBIT OFF,their GDP is to small.

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