Greece gets credit lifeline, IMF joins bailout

16-6-2017 Business Mail BusinessMail Warm

Greece gets credit lifeline, IMF joins bailout

By Jan Strupczewski, Renee Maltezou and Francesco Guarascio

Euro zone governments threw Greece another 11th-hour credit lifeline on Thursday worth $9.5 billion and sketched new detail on possible debt relief as the IMF finally offered to help out after two years of hesitation.

The 8.5 billion euros of loans from the euro zone’s 18 other states, including Berlin which is wary of easing terms for Greece ahead of a German election in September, lets Athens avoid defaulting on bailout repayments next month and recognises unpopular cuts and reforms the left-wing government has...

Read Full Article at : BusinessMail

Trending Cyprus News

Man in critical condition after being shot
A 47-year-old man is in critical condition in the Nicosia general hospital after being shot in the early hours of Sunday outside an...
Reminder: Clocks Go Back This Sunday
Clocks in the Republic Of Cyprus will turn back one hour in the early hours of Sunday - 29th October, marking the official end of summer time and...
Cooler days across Cyprus, chance of showers
Cyprus coastal areas will be slightly cooler over the coming days, mainly fine with an increase in cloud and the chance of isolated showers...
Bird activists return - new videos released
A new series of videos posted by bird activists operating in Cyprus was released recently. It coincides with a large protest that was held in...
Former Miss UK beauty queen slammed by judge for fake...
A FORMER Miss UK beauty queen was belittled in court after she faked an illness while on holiday to claim £4,000 in compensation from Thomas...
Peyia goes to court over Vassiliou project
PEYIA municipality is challenging the government’s decision to issue a planning permit for a massive development on a hillside overlooking Peyia...
Cyprus to claim EEZ in sea north of island
THE GOVERNMENT plans to submit coordinates, regarding its exclusive economic zone (EEZ) in the sea north of the island, to the United...
EU and Tusk express strong support for Cyprus, noting...
EU and Tusk express strong support for Cyprus, noting Turkey's harassment of enclaved persons A special reference to the briefing of the President...