IMF Deputy Outlines Bailout

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NewsHour’s Gwen Ifill talks to John Lipsky, first deputy managing director of the International Monetary Fund, about the $1 trillion aid package meant to stabilize the Greek economy and prevent the debt crisis from spreading. Lipsky says the package was designed in large part to provide Greek authorities with “breathing room” to implement some much needed, albeit unpopular, economic reform. He also said that once ambiguous intra-eurozone relationships are now being much more well defined for the first time in the euro’s existence.

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