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Within the next two months, Greece will also have to pass legislation giving priority to debt repayments over the funding of government services.
Within the next two months, Greece will also have to pass legislation giving priority to debt repayments over the funding of government services.
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== retailers ==
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Revision as of 00:52, 17 January 2013

Eurozone finance ministers have agreed a second bailout for Greece after marathon talks in Brussels.

Greece is to receive loans worth more than 130bn euros (�110bn; $170bn).

In return, Greece will undertake to reduce its debts to 120.5% of its GDP by 2020 and accept an "enhanced and permanent" presence of EU monitors to oversee economic management.

Greece needs the funds to avoid bankruptcy on 20 March, when maturing loans must be repaid.

After five straight years of recession, Greece's debt currently amounts to more than 160% of its Gross Domestic Product.

The euro immediately rose on reports of the deal, which was announced early on Tuesday, after 13 hours of talks. Repayment takes priority

The deal also means that private holders of Greek debt will take losses of 53.5% on the value of their bonds.

When all the elements of the exchange are accounted for, the loss to investors is expected to be as much as 70%.

Eurozone leaders and the IMF said in October that Greek debt should be reduced to a more sustainable level of 120% of GDP by 2020. Continue reading the main story Analysis image of Mark Lowen Mark Lowen BBC News, Athens

This is in effect uncharted territory for the eurozone - a managed Greek default, with over 50% of the country's private debt being written off. This was not even being considered as an option several months ago.

But the Greek people will be sceptical about this bailout. The deal that has been agreed will mean more austerity and spending cuts, and even more pain for Greeks. Many will be concerned that the new measures will kill off prospects of growth and lock the country into a spiral of recession.

Greeks say that the country's middle classes who have worked hard and pay their taxes are, unfairly, bearing the brunt of a crisis they did not create. They feel Greece's notorious corrupt politicans and wealthy Greeks who evaded tax are to blame.

The deal provides for the presence of EU monitors of Greece's economic management as some members doubt Greece's commitment to its spending pledges.

Within the next two months, Greece will also have to pass legislation giving priority to debt repayments over the funding of government services.

retailers

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Wholesale Directory helps people know what someone wants to know about the big department. Information is provided to wholesalers, distributors of the product in particular, retailers, products and much more. Large directories can also be kept online.

Some even go to extent of asking you to pay certain amount before money earned in your account can be remitted to you. I was personally scammed in my early days of online marketing by one of those sites called link2communion, asking me to pay around $20 for me to withdraw the money. Only to realize they were a scam site and my money gone,hollister uk sale!.

You can find information about the Bendix circular connector on the website for Amphenol connectors and accessories. This website features a listing of the many uses of these connectors, as well as some of the more well known clients. You can also find specifications for these connectors.

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Stable fares,abercrombie for sale. Breathless headlines about "skyrocketing" airfares are overstated. Despite worries that mergers like the Northwest-Delta deal will drive up fares, the cost of a ticket has risen only about 4 percent this year. 1. Supplies: blank tote bag, leather strips (mine were 1"x23"), scissors or a seam ripper, letter stamps,london abercrombie, and fabric paint. 2.

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