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Greece Gets a Break in Its Seven-Year Drama
The euro region agreed to give the country more money—and a little breathing space on debt.
The national flag of Greece flies above the parliament building in Athens.
Photographer: Kostas TsironisThis article is for subscribers only.
As last-minute Greek bailout deals go, this one wasn’t the worst.
The euro region’s finance ministers approved 8.5 billion euros ($9.5 billion) of aid on Thursday, and its most indebted state got a commitment that creditors will make sure it’s able to service future debt. If necessary, repayments can now be extended on emergency loans by up to 15 years.