Greece Avoids Default (For Now)



Greece Averted Nightmare Scenario - Finance Minister -- BBC

Greece has avoided a nightmare scenario by agreeing to a 130bn euros (£110bn; $170bn) bailout deal, Finance Minister Evangelos Venizelos has said.

He said the deal was probably the most important in Greece's post-war history.

The cabinet was meeting to discuss how to pass the reforms stipulated by international lenders, which include huge spending cuts and beefed-up monitoring by eurozone officials.

Trade unions have called strikes and protests for Wednesday.

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