Greece won agreement for a four-month extension of its cash lifeline yesterday after abandoning key policy promises on which the ruling party swept to power and amid warnings that the country would need “further support” in only a few months.
Finance ministers from fellow eurozone countries accepted a new economic plan from Athens that abandoned the government’s commitments to halt privatisations and rush in a minimum wage.
However, there were signs of a backlash among supporters and members of Syriza, the ruling left-wing party, with reports of a stormy cabinet meeting yesterday as ministers learnt details of the compromises.
The reduced chances of Greece crashing out of the euro helped shares to reach record levels in London and saw the stock market in Athens rise