Greece reaches deal on third bailout with creditors

Greece on Tuesday reached a deal on a multi-billion bailout with its international creditors, officials said, with the government planning to submit it to parliament later in the day.

 

“An agreement was reached,” a government source told AFP, with Finance Minister Euclid Tsakalotos telling reporters: “We are very close… There are a couple of very small details remaining on prior actions.”

 

A finance ministry source told AFP that the remaining details “do not affect the main body of the agreement.”

 

Greece’s third bailout, whose technical details were agreed to with international creditors on Tuesday, will total “around 85 billion” euros over three years, the Greek government said.

 

Athens has agreed to a long list of budgetary adjustments and reforms in exchange for the financing of “its loan repayments and the state’s (domestic) payment arrears”, the statement said.

 

The Athens stock market opened up 1.64 percent on Tuesday after three straight days of gains.

 

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