For three years, Greece has been struggling to convince markets as well as its creditors that it can get a grip on its public finances, which had spiraled out of control. The country is predicted to enter its sixth year of recession and is weighed down by an unemployment rate of 25 percent.The so-called troika of the European Central Bank, IMF and the European Commission has twice agreed to bail out Greece, pledging a total of â¿¬240 billion in rescue loans â¿¿ of which the country has received about â¿¬150 billion so far. In return for its bailout loans, Greece has had to impose several rounds of austerity measures and submit its economy to scrutiny.
Greek Bankruptcy Averted _ For Now
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