13.07.15

Eurozone leaders strike deal with Greece to negotiate third bailout program

cep chairman Gerken, however, believes that "the Greek tragedy will likely continue"

Merkel and Hollande were among the architects of the deal

Eurozone leaders reached a deal with Greece on Monday to negotiate a third bailout program to keep the country in the eurozone. “Given the need to rebuild trust with Greece, the Euro Summit welcomes the commitments of the Greek authorities to legislate without delay a first set of measures,” the leaders said in a statement. These measures includes for example the streamlining of the VAT system and the broadening of the tax base to increase revenue. cep chairman Lueder Gerken warned, however, that it remains uncertain if the Greek government will really fully implement all the agreed measures. “The Greek tragedy will likely continue,” he warned.