'Greekment' After Marathon Talks In Brussels

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The euro jumped to $1.1170 against the dollar this morning after a deal had been reached between Greece and its creditors which will allow it to be bailed out for a third time..

Earlier, reports also suggested it had been a night of “high tension”, with Alexis Tsipras, Greece’s Prime Minister, capitulating on many of the ultimatums presented to him during the negotiations, but still sticking on two points – firstly, the involvement of the International Monetary Fund (IMF) in a deal, and secondly, a proposal under which Greece would put €50bn (£36bn) of assets into a fund in Luxembourg.

A Greek official told the Associated Press that as of now, there are two very large sticking points — the involvement of the International Monetary Fund (IMF) in the proposed bailout program and the creditors’ demand that Greece set aside 50 billion euros ($56 billion) worth of state-owned assets in a Luxembourg fund for eventual privatization.

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