Jubilee USA

For Immediate Release

Organization Profile: 
Contact: 

Lydia Andrews, Deputy Director, lydia@jubileeusa.org, (202) 783-3566 x109

European Finance Ministers Applaud Greece Debt Deal that Provides Aid and Continues Austerity

WASHINGTON - European Finance Ministers endorse a new Greece debt agreement that provides financing in exchange for maintaining austerity policies and economic reforms.

“Parts of the Greece deal provide more breathing space for Greece in the short-term, but we are still concerned that there isn't enough debt relief to keep Greece out of trouble for the long-term," stated Jubilee USA Executive Director Eric LeCompte, who monitors and works on international debt agreements. "I'm also worried that the continued austerity policies hurt too many Greeks and will negatively impact economic growth."

While the International Monetary Fund's Christine LaGarde supports the deal, she raised concerns about the deal's ability to achieve sustainability for the Greek economy.
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Jubilee USA Network is an alliance of more than 75 US organizations and 650 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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