Greece second bailout

Eurozone finance minister have agreed a second bailout for greece at talks held at Brussels. Under the agreement Greece will get loans of more than 130bn euros and have about of its 107bn debt written off.in return it must slush its debt from 160% to 120% of GDP within 2020, and accept a permanent EU economic monitoring mission.Private holders of Greek debt will take losses of 35.5% on the value of the bonds with the real loss as much as 70%.Also Greece will have to amend its constitution to give priority to debt repayment over the funding of government services.