Greece Passes Austerity Deal, Paves Way for New Loans
Early Monday, the Greek parliament passed the latest austerity measures which have been demanded by creditors of the debt-laden nation.
The passing of the measures paves the way for EUR130 billion in new loans from EU partners and the IMF and prevents a default and exit from the Eurozone.
With the vote came the latest rounds of violence in the country. More than 100,000 marched on parliament to protest the latest cuts. A number of buildings were set ablaze and looters broke shop windows to help themselves to goods.
Markets around the world will breath a sigh of relief with the news, although the country and the Eurozone are far from being out of the woods.
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The passing of the measures paves the way for EUR130 billion in new loans from EU partners and the IMF and prevents a default and exit from the Eurozone.
With the vote came the latest rounds of violence in the country. More than 100,000 marched on parliament to protest the latest cuts. A number of buildings were set ablaze and looters broke shop windows to help themselves to goods.
Markets around the world will breath a sigh of relief with the news, although the country and the Eurozone are far from being out of the woods.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
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