On Saturday Greek Prime Minister Alexis Tspiras addressed the nation to inform the Greek people that his government had “won a battle, not the war.”
The new government must submit a list of reforms by Monday that must first be approved by international creditors before it can be given approval to extend the bailout terms for another four months.
Minister of state Nikos Pappas has said “the government’s reform plans would include measures to make the Greek civil service more effective and to combat tax evasion.”
Many analysts have described Friday’s agreement as a climb-down for the government who pledge to repeal austerity measures all together in its election platform.
Who Greece Owes.
Total Debt: €323bn
Eurozone: 60% (€193.8bn)
IMF: 10% (€32.3bn)
European Central Bank(ECB): 6% (€19.38bn)
Greek Banks: 3% (€9.69bn)
Foreign Banks: 1% (€3.23bn)
Bank of Greece: 1% (€3.23bn)
Other Loans: 3% (€9.69bn)
Other Bonds: 15% (€48.45bn)
Greek Economy in Numbers.
-Unemployment is at 25%, with youth unemployment almost 50% (corresponding Eurozone figures average 11.4% and 23%).
-Economy has shrunk by 25% since the start of the eurozone crisis.
-country’s debt is 175% of GDP
-Greece borrowed €240bn from the EU, IMF, and the ECB