Greece Faces the End of the Bailout Era and a Dispute with Russia

EXECUTIVE SUMMARY: Greece is now facing the end of the eight-year bailout and an unexpected diplomatic crisis with Russia. While PM Alexis Tsipras is trying to take credit for the former and manage the latter, his government may pay a price in voter discontent.

Greece reached an important milestone on August 20. The eight-year bailout programs, through which Greece received €320 billion from the “Troika” (the EU, the European Central Bank, and the IMF), came to an end. Greece will no longer receive bailout loans. Nor will its creditors be able to dictate new terms, as they did in the various despised Memoranda that Greece was forced to sign.

The bailout schemes started in 2010 as the economic crisis in Greece worsened. The huge and unprecedented loans were intended to rescue the country and prevent an economic collapse of Greece and possibly of the entire European economy.

via Greece Faces the End of the Bailout Era and a Dispute with Russia

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About OyiaBrown

Please send me, as a comment to this page, any old material you have for inclusion in The Daily Joke Alert - to help enable us all to have our fancy tickled regularly! Never mind the state it's in as I tidy everything up prior to publication. Don't let good material go to waste - and so much does. In the interests of the environment we should always try to re-cycle everything, especially jokes. You know that makes sense! You may find some historical stuff here, but this does not really matter as humor is fairly timeless.

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