Greece, said second rescue plan that "great relief".

Athens, Greece (AP) - the Minister of Finance of Greece expressed relief Friday in the wake of a second European bailout for the economy of the country hits of the crisis and markets have rallied despite the warning from ratings agency leader of an imminent rating by default for the obligations of Athens.Well that likely to affect, the rating would be an embarrassing first for a country with the euroEvangelos Venizelos promised to press ahead with unpopular cost-cutting measures aimed at generating a primary budget surplus next year and ambitious privatization seeking to increase of 50 billion euros (71 billion dollars) by the countries of the 2015.Eurozone and the Monetary Fund International was hired Thursday to give Greece a 109 billion euros ($155 billion) worth of relief fund, at the top of the 110 billion euros granted more than a year ago.The new loans carry an interest rate of 3.5 per cent generous and deadlines between 15 and 30 years.Greek shares enjoyed a bull run, with the benchmark index 5% around noon. Exorbitant loan rates - which have kept the bond markets outside locked Greece - shot to 14.3% for the 10-year bonds, more of 18% a few days ago. "Venizelos (the decision) provides a great relief for the Greek economy, which is gradually be forwarded to the real economy,"said at a press conference in Athens." "But this in no way means that we will release our efforts." ... We must continue the implementation of our program and are committed to the great target of the budgetary objectives of the meeting. "He added:"from a bottom of the barrel of the Greek public debt of the decision of yesterday." We now have a new impetus.The Greece received the Rescue Agreement three weeks after a new five-year austerity program 28 billion euros ($40 billion) in budgetary savings and 50 billion euros ($71 billion) in privatization - to the decline in violent demonstrations, strikes and a sharp fall of popularity for the party Socialist. already, a year and a half of austerity has left Greeks with significantly reduced pensiondecrease of wages in public sector, most high and growing taxes retirement age. But the Government said that reductions of paid. "We have made great sacrifices but they have not been in vain, Prime Minister George Papandreou said. "The our people rescued from the grip of the bankruptcy." "I know very well what difficulties every Greek family suffers," he told a televised Cabinet meeting. "The constraint is not complete, but for the first time in the month... we managed to create conditions of security for the future." We can be proud that we will not leave our children with an insurmountable problem. "Anti-Austerity protests continued Friday, striking taxi drivers who occupy the entries of the archaeological sites on the islands of Corfu and Zakynthos holidays and leaving the tourists free of charge.Other blocked two border crossings with Macedonia in the North, and resumed the highway toll stations, waving motorists past.Taxi drivers began a strike Monday to protest against changes in rules of licence austerity reforms."The stock of Athens rally was led by banks which have seen their value share jumping 9% on the guarantees on the new rescue loan agreement".The Greek banking system is perhaps the most guaranteed and the safest in Europe, if not the other. "It is now a large protective umbrella on Greek banks," said Finance Minister Venizelos.Parlant shortly before Fitch Ratings' warning that he would briefly placing Greece in "restricted by default" due to losses of holders of obligations under the rescue plan of the, Venizelos argued that such a decision would have no adverse effect. "The question of the liquidity has been obtained. "This liquidity will be directed to the real economy", he said. "What reaction outside of the institutional system, how was answered in advance and will have an impact no actual.".Deal Thursday received a mixed reaction of the Greece media. Main title of the liberal newspaper Eleftherotypia warned "usurers bleeding of the people for 30 years", while that conservative Kathimerini saw "a great relief for the Greece and the euro." "Hope that the Government and the political class will not relax its efforts,"Kathimerini said in an editorial."But Eleftherotypia, said that the deal came at a heavy price. "Half of this remedy will be lost by the rate higher than the Greece pay for the private lenders for years to come, as part of their agreement to become a part of the solution," said an editorial.Owner of a boutique coffee Athens Manolis Volyrakis said that he was happy with the rescue plan. "" I believe that the results of yesterday are good, from what we heard on the new ", he said. "We were able to obtain an extension to pay our debts and the best interest rate.Personal television ___AP in Athens contributed