This article was published by Al Jazeera International.
Eurozone extends debt repayment, but strict supervision on spending and reforms will remain for 40 years
Greece will officially graduate from eight years of financial dependence on its Eurozone partners in August, the currency bloc’s finance ministers announced late on Thursday, as they cleared the country to borrow from markets again.
“This is not an ordinary moment. This is a magnificent moment,” said European Finance Commissioner Pierre Moscovici. “The Greek crisis ends here in Luxembourg tonight. This has been a long road… We’re talking about eight years of efforts coming to a close for Greece, and it is an important moment for the Eurozone, too. We’re seeing an end to a crisis that had threatened our common currency.”
He said Friday’s decision would “allow Greece to get back on its feet.”