[vqIo7X2U]

After it was the subject of heated debates for weeks, the leaders of the Eurozone nations have agreed on a new bailout package for Greece, worth 159 billion Euros. Initially it was a franco-german compromise that the other countries finally agreed to. The banks will share the pain with 50 billion Euros ( topic very important to the Germans) and the IMF is on board as well. The package also includes lowering the interests Greece has to pay on Eurozone loans, the Eurozones crisis fund will be expanded, gets more competences and will be turned into a "european monetary fund" ( Nicholas Sarkozy).
Rating agencies have already announced they would rate the new measures as a greek default, but that is apparently taken into account.
Counted together the package may not be perfect but is more than previously expected and was welcomed by the markets......

New deal to shave ?26 billion off Greek debt load by 2014 - FINANCE - FRANCE 24