http://www.economist.com/news/europe/21644592-deal-struck-extend-bail-out-after-greece-caves-now-syriza-must-answer-it
It must have been easily made decision by euro-zone finance ministers about extending Greece's second bail-out, announced at 8:30pm on the Friday night. Still, on the end, they agreed to prolong Greece's second bail-out for next four months, expecting that the Greece will have enough time to reorganize its funding as well as to at least temporary slow down Greece's departure from using euro. Previous deadline was February . Regardless the positive step for euro zone, euro-pessimists don't see the real reason for the spark of optimism. Greek Government is required to come up with list of reforms which they will conduct as a part of the terms for the extension of the second bail-out.
Through this process Greece will be supervised by the tree institutions, The European Commission, European Central bank and International Monetary Fund(IMF). Under the pressure of these institutions Greece will have to do serious work in relatively short time periods. There is constantly less and less space for Greece's man-oeuvre, where Europe is expecting Greece's positive answer for all the 'trust' and support Greece got from the Euro group.
It must have been easily made decision by euro-zone finance ministers about extending Greece's second bail-out, announced at 8:30pm on the Friday night. Still, on the end, they agreed to prolong Greece's second bail-out for next four months, expecting that the Greece will have enough time to reorganize its funding as well as to at least temporary slow down Greece's departure from using euro. Previous deadline was February . Regardless the positive step for euro zone, euro-pessimists don't see the real reason for the spark of optimism. Greek Government is required to come up with list of reforms which they will conduct as a part of the terms for the extension of the second bail-out.
Through this process Greece will be supervised by the tree institutions, The European Commission, European Central bank and International Monetary Fund(IMF). Under the pressure of these institutions Greece will have to do serious work in relatively short time periods. There is constantly less and less space for Greece's man-oeuvre, where Europe is expecting Greece's positive answer for all the 'trust' and support Greece got from the Euro group.
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