New Greek Bailout Inching Closer to Fruition

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By Trey Thoelcke Published
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The latest rumors about Greece’s bailout suggest that a deal will be done soon. Only last week, battles among Germany, most European Union finance ministers and the International Monetary Fund made a compromise unlikely. Germany refused to force bond holders to take another write-down in addition to the one they took months ago. The IMF wanted more liberal terms for Greece to get is budget house in order. Greece has made the requested austerity cuts, but its economy was falling apart too quickly. According to Reuters:

International lenders have agreed new steps to cut Greece’s debt pile further but it still has to fill a 10 billion euro ($13 billion) gap to gain the IMF’s approval for its next tranche of aid, a senior Greek government official said on Friday.

The International Monetary Fund has agreed to deem the country’s debt viable if it falls to 124 percent of GDP in 2020, giving ground on its earlier target of 120 percent, the official said on condition of anonymity.

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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