Is it a done deal? Not quite since eurozone finance ministers meet on Wednesday to pin down Greece’s coalition government to a final agreement on details for 325 million euros worth of deficit reduction and written endorsement from all coalition leaders on implementation of the conditions for the second bailout. Also, following this, parliamentary approval is required for the contributions by eurozone members to Greece’s loan.
However, lawmakers in Greece have chosen to go for it knowing the hardship and burden the Greeks must bear for the indefinite future. It is difficult to imagine that Greece will not now be granted access to a second bailout. The betting must be that it will. More >