by Bill McBride on 11/26/2012 07:38:00 PM
Monday, November 26, 2012
Euro zone finance ministers and the International Monetary Fund clinched agreement on a new debt target for Greece on Monday in a breakthrough towards releasing an urgently needed tranche of loans to the near-bankrupt economy, officials said.From AlphaVille: A mere three weeks later, a Greek debt deal (?)
After nearly 10 hours of talks at their third meeting on the issue in as many weeks, Greece's international lenders agreed to reduce Greek debt by 40 billion euros, cutting it to 124 percent of gross domestic product by 2020, via a package of steps.
UPDATE: Press release here: Eurogroup statement on Greece.
Posted by Bill McBride on 11/26/2012 07:38:00 PM