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Pre-Market Primer: Troika Reaches Deal on Greece Aid, OECD Slashes Global Growth Forecast
MINYANVILLE ORIGINAL The big news today is that the Eurogroup and International Monetary Fund finally came to at least a tentative agreement over their bailout of Greece. The deal reduces Greece's debt by 40 billion euros. The deficit reduction target is still set for 2020 but Greece will only have to get its debt to GDP ratio down to 124% rather than 120%. International lenders have also agreed to reduce the interest rates for official loans and defer maturities and interest rate payments on bonds for over 10 years. The European Central Bank will also return 11 billion euros of ...
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