A Lot More Work to be Done in Greece

Greek Prime Minister Alexis Tsipras began the task of selling domestically a provisional deal with euro-area partners to extend bailout funds after securing a reprieve from the prospect of national insolvency.

“We won a battle, but not the war as the difficulties, the real difficulties, not only those related to the discussions and the relationship with our partners, are ahead of us,” Tsipras said in a televised speech on Saturday.

Talks in Brussels between officials from the 19 euro-area countries concluded late Friday with an agreement to extend bailout funds to Greece for four months. Tsipras’s government must submit a list of economic measures it will undertake by Monday. Finance chiefs will then decide whether his proposals go far enough.

Bloomberg

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