TITLE

Why was this deal needed

PUB. DATE
March 2012
SOURCE
Daily Mail;3/10/2012, p2
SOURCE TYPE
Newspaper
DOC. TYPE
Article
ABSTRACT
Why was this deal needed? Greece has spent hugely beyond its means for many years and now has a national debt of �268billion - 160 per cent of GDP. It was bailed out by the EU and IMF to the tune of �120billion in 2010, but it soon became clear that was not enough and a second bailout of �130billion was agreed last year. A key condition was that Greece reach a deal with its private creditors such as banks and pension funds to reduce its debt.
ACCESSION #
73020969

 

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