Greece Completed Eurozone Bailout Programme; Now Free to Borrow Money
August 20 , 2018
In a first in eight years, Greece is finally free to loan money from the financial markets. The country has successfully finished the eurozone bailout programme which lasted for 3 years. The programme was designed to help Greece deal with the debt crisis. The ESM (European Stability Mechanism) has given the country $70.8bn in a span of 3 years. This money amount has played an important role in recapitalizing country's banks and reforming its troubled economy. However, the economy is still growing slowly and is 25% smaller than what it was at the beginning of the crisis.