Greece given two more years of concessions

PanARMENIAN.Net - After weeks of battling to struck a deal, it appears that eurozone leaders have finally agreed to delay Greece meeting government budget deficit targets an additional two years until 2016, according to Nasdaq.com.

While market skeptics are still plentiful and optimists few, the intention is to bring the country's budget deficit down to 3% of GDP.

An structural overhaul on the labor and energy sector is also thought to have been given extra time until targets are met, the German paper reported. However, at present, much still needs to be discussed. According to a Greece Senior FinMin official: "No deal about the changes in labor market is still in palce, Troika will tell to EWG that there's no deal between political leaders."

On whether the next aid disbursement will come to Greece's shore in the days to come or there is still more tough negotiations with international creditors and the Troika, the paper suggests that it is almost a done deal that Greece will be shortly receiving the €31.5 billion, part of its next tranche of aid package. There is also unanswered questions, including who the payers will be so that Greece can comply with forthcoming debt paybacks, estimated at €15-€18 billion for 2013-2014.