Greece managed to receive another loan from its creditors. According to the final round of negotiations, eurozone leaders authorized a bridge loan to Greece. Now the country can avoid default and receive a bailout of 86 billion euros in return for its promise to save money and introduce tough reforms. The European Union had to believe Greece. However, some officials suppose that this decision was not made in favor of Greece or its government. The Greek Prime Minister failed to convince creditors to wipe off the debt of 320 billion euros. All his attempts, including referendum, public refusal from austerity measures, and the eurozone exit, were in vain. An unnamed member of the eurozone summit said that Tsipras was literally trampled.
One of the key terms of Greece’s financial aid is its privatization trust fund into which Athens will transfer some 50 billion euros worth of its assets. The fund will contain large public organizations, including ports and railway companies. This situation is a real challenge for the EU. It is not the first time that President of the European Commission Jean-Claude Juncker is tackling crisis on the Balkans. But for President of the European Council Donald Tusk it was the first serious task he successfully dealt with.
