3rd Times The Charm?

From the BBC:
"Greece debt crisis: Eurozone summit strikes deal"

 

Eurozone leaders have agreed to offer Greece a third bailout, after marathon talks in Brussels. Amid one of the worst crises in the EU's history, the head of the European Commission said the risk of Greece leaving the eurozone had been averted.   Greek Prime Minister Alexis Tsipras said that after a "tough battle", Greece had secured debt restructuring and a "growth package". Greece will now have to pass reforms demanded by the eurozone by Wednesday. These include measures to streamline pensions, raise tax revenue and liberalise the labour market.   An EU statement spoke of up to €86bn (£61bn) of financing for Greece over three years. Though it included an offer to reschedule Greek debt repayments "if necessary", there was no provision for the reduction in Greek debt - or so-called "haircut" - that the Greek government had sought.  Parliaments in several eurozone states also have to approve any new bailout. "There will not be a 'Grexit'," said European Commission chief Jean-Claude Juncker, referring to the fear that if there had been no deal, Greece could have crashed out of the euro.  Mr Tsipras also said he had the "belief and the hope that... the possibility of 'Grexit' is in the past". Greek Prime Minister Alexis Tsipras will have to rush key measures on pension reforms, tax increases and a debt repayment fund through parliament. It will be a bruising process. Only then will bridging loans be released that will enable Greece to meet a payment to the European Central Bank next Monday.

 

 

 ^ I knew that the EU was only talking tough about allowing Greece to leave the Eurozone  - since it would also affect their own economies. The Greek Prime Minister realized that also and called the EU's bluff and won. ^

http://www.bbc.com/news/world-europe-33503955