Greece to Receive Next Round of Aid

Greece received a clean bill of health from its international creditors on Monday, securing more rescue aid and prompting its finance minister to say he would ask for much more debt relief if Athens keeps meeting its bailout targets.

Athens is on course to contain its debt and pull itself out of a crippling recession next year, the creditors said, adding that the next disbursement of aid to the country, of at least 2.8 billion euros ($3.7 billion), should be approved soon.

The “troika” of creditors – the European Commission, International Monetary Fund and European Central Bank – gave the green light for the aid after Greek authorities gave up their opposition to about 15,000 public sector layoffs, a key condition of its latest bailout deal agreed late last year.

“I am very pleased that the government is making a particularly determined effort in this area,” the IMF’s mission chief to Greece Poul Thomsen said in a conference in Athens. “It has always been a surprise to me … that it’s been such a political taboo to get rid of people who under perform”.

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