By: Economic & Finance Report
Finance Ministers across the Eurozone spectrum agreed to extend Greece’s bailout. This allows Greece to restructure their financial banking and regulations that the country had in place. This also helps Greece in that they now do not have to put in place capital controls.
Greece Finance Minister Yanis Varoufakis, indicated they will institute new regulations and have to crack down on corruption and business entities evading taxes, while also trying to balance the Greek annual budget.
The Eurozone’s has stated they will impose the bailout extention to Greece for an extra 4-5 months, so Greece can have the necessary time to restructure their financial banking.
-SB