Euro Gains After Ministers Reach Greece Agreement
After three years of false-starts and many days of talks in Brussels, finance ministers are optimistic that they have finally found the solution for Greece.
Rates have been cut on bailout loans, interest payments have been suspended for a decade and Greece will also be receiving 34.4 billion Euros as a loan installment in December.
Prime Minister Antonis Samaras celebrated a "new day" at midnight last night as Greece will be staying in the Euro-zone, but the country needs to ensure to deliver on its commitments to earn each payout.
The news has been received well by the markets and the Euro rose 0.2% against the dollar after the announcement, a three-week high. This announcement has come as a relief to the Euro after enduring weeks of pressure.
|Euro gains after ministers reach Greece agreement page created by victor derma|