EU/IMF approve next aid tranche for Greece: euro zone source

BRUSSELS (Reuters) - Euro zone finance ministers and the International Monetary Fund have approved the payment of the next tranche of financial support to Greece, a senior euro zone source told Reuters on Friday.

Reuters - Euro zone finance ministers and the International Monetary Fund have approved the payment of the next tranche of financial support to Greece, a senior euro zone source told Reuters on Friday.

BRUSSELS — Eurozone finance ministers and the International Monetary Fund clinched agreement on a new debt target for Greece on Monday in a significant step towards releasing another tranche of loans to the near-bankrupt economy, officials said. After nearly 10 hours of wrangling at their third meeting on the issue in as many weeks, Greece’s international lenders agreed to reduce Greek debt by 40 billion euros to 124% of gross domestic product by 2020 through a package of steps.

No entity is willing to stand up and say the obvious, that Greece is insolvent and cannot and will not pay back its debts. Moreover, in spite of an ECB mandate that  prohibits direct financing of governments, the ECB is doing just that. Simply put, the ECB is printing euros, to give to the Greece, so that Greece can make interest payments to the ECB on maturing bonds.

BRUSSELS (Reuters) - Negotiations with Greece's private creditors on a second rescue package for Athens have broken down, throwing efforts to resolve the euro zone debt crisis into doubt despite progress in boosting the region's rescue fund to one trillion euros. Presented By: Grainger has your safety needs covered.