Greece just received some short-term relief from the eurozone.
In exchange for successfully implementing tough economic reforms and budget constraints, the country will be given some short-term help in the form of smoothing its repayment schedule for EFSF debt and waiving an interest rate increase that was scheduled for 2017.
We agreed the primary surplus (which excludes debt-servicing payments) goes up to 3.5 per cent of GDP in 2018 and beyond for the medium term, Eurogroup President Jeroen Dijsselbloem told reporters on Monday.
But the deal stopped short of granting Greece the one thing that would really help it get a handle on its heaping debt load. Debt forgiveness.
And the market seems to be taking note. Gr…
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