BTL:Greeks Resist Harsh Austerity Measures Imposed by Eurozone as Condition for New 2 B

Greeks Resist Harsh Austerity Measures Imposed by Eurozone as Condition for New 2 Billion Bailout

Interview with Costas Panayotakis, author and associate professor of sociology at New York City College of Technology, conducted by Scott Harris



European finance ministers agreed on Feb. 21 to a second bailout of the Greek economy, avoiding for now the threat of default, which many observers fear could trigger a crisis that would endanger the survival of the Eurozone. The so-called “troika,” made up of the European Central Bank, the European Commission and the International Monetary Fund negotiated a deal that will cut the principle on Greek bonds and lower the interest rate paid.

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