After long negotiation process and even longer preparation stages Greece will receive bailout fund as agreement was reached earlier today,
February 21, 2012. As previously agreed the fund is measured at EUR 130 billion. The Eurozone and the International Monetary Fund, which will be providing the money for the new bailout, hope the new program will eventually put Greece back into a position where it can survive without external support and secure its place in the euro currency union. Finance ministers from Greece and the other 16 euro countries meeting in Brussels wrangled until the early morning hours over how that could be achieved. In addition to received funds, Athens will ask to forgive EUR 107 billion in debt held by banks and investment funds.

AgroInvest comment: We truly wonder whether such measure will have any positive long-term effect on the economy of Greece and stability in the
Eurozone in general. Austerity measures fiercely demanded by the IMF and World Bank are still to be implemented and are truly hard to achieve
given the moods of the Greek population. Unless there is a very close monitoring after the use of the costs attracted, Greece will only face even
worse problems as soon as by the end of 2012. We continue closely monitoring the situation.
 

AgroInvest