EU aid deal secures Greece in single currency

The European Union yesterday agreed to disburse more aid to Greece and struck a deal on setting up a banking union, finalising two of the toughest issues it has confronted this year and giving its leaders a lift ahead of a two-day summit.

The deal to provide nearly €50 billion (HK$505.6 billion) in long-delayed aid to Athens prompted its prime minister, Antonis Samaras, to declare an end to talk of a Greek exit from the single currency. It averts a catastrophic default and secures Greece's survival in the euro zone after months of doubt and political turmoil.

via Business feed http://www.scmp.com/business/economy/article/1104785/eu-aid-deal-secures-greece-single-currency