Greece Nears Deal

Big Picture

June 5, 2015

News from Greece continued to attract attention this week as the country struggles to reach a deal on its bailout program with creditors. Word late Thursday that Greece will bundle its four June debt payments into one at the end of the month was the latest development. Earlier in the week, the two sides agreed on some aspects of a deal to get Athens some money but differences remain.

The differences are rooted in the depth of pension cuts for Greek public workers and the size of an increase in the value-added tax for its citizens; both moves are critical say creditors to get Greece back on a sustainable economic path.