French and German taxpayers are again backstopping years of Greek excess. In return, Greek's prime minister was forced to once again pledge support for reforms that will hopefully ensure deep cutbacks in government spending.
Investors have been pleased with the news as it prevents, for the time being, a Greek default or expulsion from the Eurozone. The International Monetary Fund and the World Bank will review Greek finances again in the coming days to ensure that reforms are being implemented.
In Europe, all stock markets headed higher on the news, with Germany up over 2 percent. However, Greek debt still stands at 150% of GDP and citizens across Europe's capitals are largely going to reject more efforts to bailout foreign governments.