Greece completes three-year EU bailout programme

Will be able to borrow on financial markets for first time in eight years

Mike Sheen
clock • 2 min read

Greece will be free to borrow money on its own terms for the first time in eight years after successfully completing a three-year eurozone bailout programme.

In the wake of its debt crisis, Greece was given loans amounting to more than €260bn by the eurozone and the International Monetary Fund (IMF), under strict conditions that forced the country into a series of harsh austerity measures. Assessing the longer-term risks stemming from public sector indebtedness As part of the biggest bailout in global financial history, the European Stability Mechanism (ESM) - a eurozone fund established to help its member nations deal with a financial crisis - provided Greece with €61.9bn over the three years, supporting the country's efforts to reform it...

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