Your English writing platform
Discover LudwigSuggestions(2)
Exact(28)
Then his attempt to win a bridging loan, separate from the existing bailout deal, was trashed.
On Tuesday, Moody's became the first agency to strip Portuguese government debt of "investment grade" status, cutting its rating to junk and saying it did not believe the existing bailout package would be enough to restore stability to Portugal's finances.
Another open question is whether the funds will come from the European Stability Mechanism, the permanent bailout fund that is supposed to begin operating in July, or the European Financial Stability Facility, the existing bailout fund.
For this sacrifice by the Greeks, the troika is now expected to pull out all the stops and wave through the last €7.2bn of funds due under the existing bailout programme.
It has allocated $125 billion to the nation's nine biggest banks and investment banks; another $125 billion for publicly traded regional banks; and $40 billion to expand the existing bailout of American International Group, the insurance conglomerate that collapsed in September.
In Greece, the man favored by most E.U. governments to lead the next government — Antonis Samaras, who leads the center-right New Democracy party — told voters Wednesday that he would work to change the terms of the existing bailout from international lenders.
Similar(32)
To the surprise of nobody except a few alarmists, the finance ministers of the European Union reached a deal with Greece on Friday, extending the country's existing bailout until the early summer.
But one reason that the deficit estimate was higher than those of outside analysts was that it added in hundreds of billions of dollars in spending tied to the government's existing bailout programs, which the Bush administration has thus far treated as "investments" it would recoup rather than "spending" or "costs" that are down the drain.
This time last year, the country's blighted economy was enjoying a modest recovery, and its former Prime Minister, Antonis Samaras, was talking of the country abandoning its existing bailout, funded by the troika of the European Central Bank, the European Commission, and the International Monetary Fund, and seeking financing on the private markets instead.
Until Greece comes up with a viable plan, Merkel will block the release of existing bailout funds, and ensure there is no new money.
As such, the primary surplus was estimated to hit 1.5% in 2015 – half that in the country's existing bailout programme.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com