Monday, July 13, 2015 – 08:40 a.m.
Greece and it’s European counterparts struck a deal for a third bailout of the beleaguered nation early Monday morning in Brussels.
The complex set of terms will be a hurdle in the Greek Parliament, which must approve drastic reform measure by Wednesday.
The country must also place €50 billion worth of government-owned assets into a trust, which will either privatized or operated at a profit. Something Greece seemed to be unable to accomplish.
This will be a long road to implementation. We’ll have to see how it all plays out.
For now the euro is stable and the U.S. Dollar and British Pound the real winners.
Greece owes some €320 billion to its creditors.