Eurozone strikes deal on second Greek bailout package

After late-night talks in Brussels, Eurozone finance ministers have agreed on a new 130 billion Euro bailout package for the Greek economy.

The long-awaited deal aims to cut Greece's debts to 121% of GDP by 2020, EU officials said.

Mark Weisbrot, economist and co-director for the Centre for Economic and Policy Research in Washington, explains why he believes the deal is a "complete mess" and will do no more than just "calm the market for a couple of days".