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Money Talks: Greece reaches deal with creditors on reforms under bailout review
Before Brexit became an issue, the big concern in Europe was that Greece would tumble out of the Eurozone. But Greece's debt-laden economy now appears to be on the mend. Over the weekend, it agreed with European lenders and the International Monetary Fund on what it has to do to release nearly $6 billion in bailout funds January 2018. The deal is part of a more than $100-billion package of measures to help Greece's economy recover.
But the sale of repossessed houses has touched a raw nerve. Angry crowds gathered in court houses in recent weeks to block the sales and have fought with riot police. Greek banks are saddled with nearly $120 billion in bad loans. That is half of their total lending. They want to sell around 18,000 properties in 2018. Ken Odeluga, Market Analyst at City Index, brings his analysis.
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