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Greece Given Two-Year Extension to Rein in Deficits

Euro-area finance ministers gave Greece two extra years to wrestle down its budget deficit, pledging to plug the resulting financing gaps in order to keep the country in the single currency and prevent a renewed flareup of the debt crisis.

Finance ministers granted Greece until 2016 to cut the deficit to 2 percent of gross domestic product. They put off until Nov. 20 a decision on how to cover additional Greek needs of as much as 32.6 billion euros ($41 billion) and left unclear whether the International Monetary Fund will continue to contribute.

Source: Bloomberg. Read full article. (link)

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  • Sevo||

    Do the Euros really think there will be a change in Greece's economic activities?
    Hey, the check's in the mail! And I won't xxx! (nsfw)

  • ||

    I imagine this decision turned on "What happened to you EU? You used to be cool"