A sigh of relief

The Eurozone’s finance and economic ministers (Eurogroup) met Tuesday and approved  the next €8bn tranche of the €110bn original Greek rescue created in May 2010 by the International Monetary Fund and the European Union. The money is expected to be given to Greece by December 10-15.

Next step for the new government is to pursue the implementation of laws and measures already adopted by parliament and agreed upon as a condition for the second bailout package. Talks for the PSI are also underway.

This all takes place against the eurozone’s protracted difficulties. The crisis is overshadowing all other issues in Europe at the moment.

For the time being, Greece can breath a temporary sigh of relief but there is still much work to be done and time is of the essence.

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