The Rocky Road to Globalization: \u00a0Holding Greece in the Group<\/p>\n
The European Commission said a technical agreement had been reached with Greece, which now requires political approval.\u00a0The Greek government is hoping to push a new \u20ac86bn (\u00a360bn) three-year agreement through parliament later this week.<\/p>\n
A deal is needed to keep the country in the eurozone and avert bankruptcy.<\/p>\n
The country needs a deal by 20 August, when it has a debt repayment of about \u20ac3bn to make to the European Central Bank.<\/p>\n
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A Greek official said earlier that Greece agreed the function of a new independent privatisation fund, and how non-performing bank loans will be administered.<\/p>\n
Both issues had been key sticking points in negotiations.<\/p>\n
“Finally, we have white smoke,” the official said.<\/p>\n
Deregulation of the natural gas market, another sticking point, was also agreed.<\/p>\n
But Finnish Finance Minister Alexander Stubb sounded a cautious note, saying more work needed to be done with the details to finalise the agreement.<\/p>\n
The Eurogroup of eurozone finance ministers is to meet on Friday to discuss approval of the deal, Spanish Prime Minister Mariano Rajoy said.<\/p>\n
His centre-right People’s Party, which has a majority in the Spanish parliament, will be asking other parties to vote in favour of the agreement, he added.<\/p>\n
The Rocky Road to Globalization: \u00a0Holding Greece in the Group The European Commission said a technical agreement had been reached with Greece, which now requires political approval.\u00a0The Greek government is hoping to push a new \u20ac86bn (\u00a360bn) three-year agreement through … Continue reading ![\"Greek](\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/08\/Greek-Deal.jpg\")
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