European creditors on Wednesday pulled a recently announced debt relief package for Greece in protest at subsequent budget spending measures announced by Athens.
At a meeting of the eurozone’s 19 finance ministers, Greece’s creditors offered some immediate debt help to Greece. They include smoothing some of Greece’s repayments to prevent debt humps and a waiving of an interest rate increase. Officials said the measures could chop 20 percentage points off Greece’s debt burden through to 2060. Greece’s debt is worth around 180 percent of its GDP, a level experts consider unsustainable.
Days after that agreement, however, Greek Prime Minister Alexis Tsipras, announced that his government would…
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