EU leaders accused of just buying time with deal

EU leaders were accused of just buying time and not resolving the Greek debt problem, amid warnings that their agreement reached in Brussels last night will keep the spotlight on the euro and on weaker countries like Ireland.

Greece will be taken out of the markets for 15 years, while most of the money they owe to banks and private investors will not have to be repaid until 2020 if the new deal works out as planned.

But their overall debt, currently standing at €360 billion, has not been reduced very much by the agreement according to a number of economists, including Sony Kappur, head of the think tank Re-Define.