Friday, July 22, 2011

Greeks overjoyed by bailout deal

July 22, 2011

Mired in recession and deepening poverty, Greece hailed the Brussels deal as a historic step that offered the first glimpse of hope in a crisis that has dogged the country for 18 months.

After relentless bad news and unprecedented austerity, Greeks welcomed the EU decision to throw the debt-stricken nation a second financial lifeline of such colossal proportions, said the prime minister, George Papandreou.

"Our people have been released from the nightmare of bankruptcy," the socialist leader enthused before explaining the finer details of the complex €109bn (£96bn) rescue plan to his cabinet ministers. "We were on the verge of the abyss but we didn't waver. We made big sacrifices but they didn't go to waste. We achieved historic decisions. Europe took a historic step forward."


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