Greek bailout: a payday loan with serious conditions attached
From theguardian.com
It’s the kind of hand-to-mouth decision many families whose finances are tight have to make regularly: how to meet the monthly mortgage repayment. But most people know using their credit card, which invariably carries a far higher interest rate, is not a sensible answer. Yet Yanis Varoufakis, the Greek finance minister, told a BBC interview on Sunday that’s exactly what his government is being urged to do. And in a sense, he’s right. The deal Greece was being offered by its troika of creditors last week might have helped it to honour the €1.6bn repayment it is due to make to the International Monetary Fund on ...
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