National Bank of Greece ADR (fka NBGGY)

[KMBSOUTH]

They are much more ambitious measures than we expected in May or hoped for, so that’s very promising,” said Greek Finance Minister Euclid Tsakalotos. “This will start helping the Greek economy all at once.”

According to Klaus Regling, the head of the European Stability Mechanism, the body that releases the bailout funds to Greece, Monday’s package of measures will reduce Greece’s debt burden by around 20 percentage points by 2060. Tsipras said the reduction could amount to some 45 billion euros.