After what was a marathon 17 hour session, today’s deal buys time for Greece to negotiate a third bailout. It is centred around Greek assets being put into a special EUR 50bn rescue fund, half to rescue the banks now and bridging finance for its short term needs, together with the “re-profiling of debt maturities”.
This then has to be ratified by the Greek parliament, which is not guaranteed. With no debt forgiveness given, it does feel like there is the possibility for future issues: has the can just been kicked another 3 years down the road?
Solutions Edge 