After more than half a year of back-and-forth negotiations, with both sides guilty of brinksmanship bargaining, we learned Monday that a deal had finally been reached to provide Greece with a second emergency bailout. A total of 130 billion euros, or $172 billion, has been promised to Greece with the first payment expected in time to meet the next bond repayment scheduled for March 20th. While the accord may avoid an immediate default, there are significant strings attached to the continuation of future payouts later in the year. These are similar to the conditions set out for the initial rescue package negotiated ... (full story)