The Greek sovereign debt crisis led to multiple bailout packages from Eurozone countries and the IMF. The 2011 bailout involved mandatory private sector participation in debt restructuring.
In July, 2011 Eurozone's 17 member countries agreed to give Greece a massive financial bailout worth more than 150 billion dollars to try to rescue Greece's shaken economy. In this respect, which of the following statements is/are correct ? 1. This is for the first time Greece has been given financial bailout by other European countries. 2. Private lenders including banks are also pledging support which will give Greece easier repayment terms. Select the correct answer using the code given below :
Asked in UPSC CAPF 2011 · Topic: Money & Banking (Banking Sector Reforms: Basel Norms, Asset Quality Review (AQR), and NPA Management)
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