Greece Reaches Deal for Next Bailout Tranche

Greece and its international lenders struck a deal to unlock the next tranche of loans under its rescue package on Tuesday, ending six months of negotiations that Athens called its “toughest” review since being bailed out.

The deal paves the way for Greece to repay nearly 10 billion euros of bonds due in May and bolsters expectations it could soon return to the bond markets for the first time since its debt crisis escalated four years ago.

Athens and its European Union and IMF lenders had been haggling over the bailout review since September, making it the longest inspection of the country’s finances since Greece was first rescued from bankruptcy by the creditors in 2010.

“This review was the toughest we’ve had so far,” Finance Minister Yannis Stournaras told reporters after a week of marathon talks that ended in the early hours of Tuesday.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza