Greece strikes a 4-month debt deal.

In the early hours of Saturday morning Sydney time Greece finally struck a deal with the Troika and its creditors for a 4-month extension on its debt and austerity arrangements. The deal struck will ensure Greece does not need to roll over and declare bankruptcy, as it would have needed to do without the debt extension.

Rather than turn the money tap off on Greece it will continue to receive bail out funds for another 4 months to allow it time to convince the Troika and its creditors that it requires some slack in its austerity program. The Greek Government must submit a list of economic measures that it will undertake by Monday to ensure the deal holds together so it is unlikely the current drama simply moves to the back burner. 

The full article is featured in today's LTG GoldRock Insider Report.