Eurozone Creditors Reach Deal With Greece On Bailout

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Greece and Eurozone Finance Ministers have reached a deal on the Greek Debt after meetings.

Its conditional on Greek Reforms being presented to the Creditors by Monday.

The Greek side has presented their conditions too and have agreed to work closely with the EuroGroup to fight : Tax evasion, Corruption and the Human Refugees.

They have agreed to extend the country’s bailout by four months.

Next meeting is scheduled to take place via conference call

  • The extension was granted on the condition that Greek authorities will present a list of reform measures to its eurozone creditors by Monday. Creditors must agree to a final list by April, the Eurogroup said in a joint statement tonight.
  • A Greek official told Reuters that Greece has “turned a page” by avoiding recessionary measures. The official added that the government will present reforms for the interim period, prioritising areas where there is common ground with its eurozone partners – such as tackling tax evasion, corruption and dealing with the humanitarian crisis.
  • At a press conference in Brussels, Eurogroup chairman Jeroen Dijsselbloem said Greece had given “their unequivocal commitment to honour their financial obligations” to creditors, and called the agreement an important step in rebuilding trust.”
  • He later added: “Economic recovery cannot be put in danger, fiscal stability cannot be put in danger, financial sector stability cannot be put in danger.”

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