[Summary]European Leaders Have Reached a Greek Bailout Agreement

[Summary]  

European Leaders Have Reached a Greek Bailout Agreement

(Jul 14th 2015, 4:21AM BY Joanna Plucinska)

(8/29 update 1)Abstract

In Brussels meeting, Greece fought a difficult battle with the Eurozone leaders and they reached an agreement -- the Greek bailout deal.

My summary 

On Monday morning local time in Brussels, the Eurozone leaders meeting was hold.  This meeting was talked the proposal of Greek over about the financial support and serious reform and participants agreed upon the bailout.

Europe had been a victor in this battle.  Although Greece period, extra time you are given to pay money you owe without losing something or paying an additional amount, made Greece receive some relief, Greece did not receive a cut in total level debt that it still secured debt restructuring, a 35 billion euro growth package and will need continued help from the International Monetary Fund.

Besides, according to the Associated Press, Greek parliament will convene to vote the new reform in a few hours later.  This revolutionary reform will avoid Greece from being kicked out of the Eurozone.

(7/15)Abstract

In Bruseel meeting, Greek fought a difficult battle with the Eurozone leaders and they reach an agreement -- the Greek bailout deal. 

My summary 

On Monday morning local time in Bruseel, the Eurozone leaders had agreed upon the bailout deal Greek propose.  Europe had been a victor in this battle.  This propose would lead financially trouble countries to come no Grexit.  

The deal contained two orient financial support and serious reform.  It means that Greece had secured debt restructuring and a 35 billion euto growth pack. Fortunatelly, Greece will be released from a longer grace period. Althoght Greece still cannot receive a cut from creditor nations, it get the help and gasp from IMF. 

A few hours hours Greek parliament will vote the new reform in because European leaders thrteatened to kick Greece out of Eurozone if Tsipras continues fleeing the difficult reforms.

Original article:

http://time.com/3955131/greece-bailout-deal-agreement-eu-austerity/

Best regards.

Paguma

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Words in This Story:

bailout n. : the ​act of ​helping a ​person or ​organization that is in ​difficulty, usually by giving or giving or ​lending ​money.

tweet n. : a ​short, high ​sound made by a ​bird.

convene v. : to ​bring together a ​group of ​people for a ​meeting, or to ​meet for a ​meeting.