The Eurozone this Monday announced an agreement to bailout Greece and its pathetic economic state. This debt will include lower interest rates and it could help to repay its rescue loans. They are tentative to actually forgive the debt, though. In Brussels, IMF officials held a meeting to discuss these matters that lasted approximately 10 hours. They wanted to make sure that it wasn't only about money, but that they would be ensuring a brighter future for Greeks as well as the Euro area. This bailout costs will cost them around 44 billion euros that they will pay in smaller amounts. Greece has also received bailout two years ago as well, but they still feel shaky and in need of a lifeboat.
When I heard about Greece having a economic crisis a few months ago, I knew it would bring all of Europe with them in a pile of debts and many problems. Greece is the same as Italy because Italy is going through the same crisis. Of course the right thing to do is bail Greece out, but for the sake of all of Europe and maybe even the world, lets hope they don't come crashing down again.
SOURCES:
http://money.cnn.com/2012/11/26/news/economy/euro-imf-greece-deal/index.html?hpt=ieu_c1
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