March 9th, 2012
01:38 AM ET

Creditors agree to Greek bond deal

Creditors have agreed to a plan to restructure Greek government bonds - a move that was vital to the financial future of the country - Greek government officials said Friday.

The monumental deal means Greece has cleared its final hurdle to qualify for the €130 billion bailout program from the European Union and International Monetary Fund.

More than 85% of private bondholders agreed to the deal, Deputy Prime Minister Evangelos Venizelos said in a statement


Filed under: Economy • World
soundoff (3 Responses)
  1. chrissy

    Lets hope they had the good sense to attach some form of accountability to this bailout, unlike the BUSH administration did with the US bank bailout!

    March 9, 2012 at 12:12 pm | Report abuse |
  2. saywhat

    So far we havn't heard of the accountability aspect of the deal but I agree that it has to be conditional.
    Its another matter that a war with Iran and ensuing turmoil , fuel crisis etc would be devastating for most E.U countries including Greece.

    March 9, 2012 at 1:41 pm | Report abuse |
  3. Greek American

    Its basically a deal where in the bondholders agree to take a huge loss and basically that's it. Greece is going to have enough problems implementing reforms and paying back the money anyway.

    March 10, 2012 at 7:18 pm | Report abuse |