in 2020 or some time later.
But at least for now, they will live to fight another day. An agreement between the IMF and the Euro area lenders will provide the next installment of EU money and keep lights in Athens on.
For how long? It is difficult to say: " the IMF had stuck to a bottom line of getting the Greek debt level to
120% by 2020, far below what eurozone and IMF inspectors concluded was
possible."
The agreement is to have Greek debt, in 2020, to fall only to 124% of GDP, rather than 120%. The IMF would like to have some of Greek debt forgiven; te creditor countries do not agree.
Everyone will now wait to German elections in 2014 which will clarify what German voters want.
In a pinch, there is always Super Mario. Who?
The guy in the picture, Mario Draghi, the president of the European Central Bank. ECB can pump money into the Euro area as needed.
PS. In case you were looking for a Christmas present - look on the right of the page
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