Eurozone finance ministers have reached a deal with Greece to start debt
relief for the country as demanded by the International Monetary Fund,
and to release 10.3bn euros ($11.5bn) in bailout funds.
The 19 ministers from the countries that use the euro met on Tuesday May 24,2016 two days after Greek Parliament passed yet another round of spending cuts and tax increases demanded by its creditors.
After reaching a deal at late night talks in Brussels, Jeroen Dijsselbloem, Eurogroup chief and Dutch finance minister, said the ministers had achieved a "major breakthrough"
Jeroen Dijsselbloem, Eurogroup chief and Dutch finance minister, said the ministers had agreed to release the 10.3bn euros, the reward for completing the first formal review of its 86bn euro bailout programme agreed in July 2015
Greece's creditors would pay a first 7.5bn-euro tranche in June and the rest in a series of later disbursements.
The 19 ministers from the countries that use the euro met on Tuesday May 24,2016 two days after Greek Parliament passed yet another round of spending cuts and tax increases demanded by its creditors.
After reaching a deal at late night talks in Brussels, Jeroen Dijsselbloem, Eurogroup chief and Dutch finance minister, said the ministers had achieved a "major breakthrough"
Jeroen Dijsselbloem, Eurogroup chief and Dutch finance minister, said the ministers had agreed to release the 10.3bn euros, the reward for completing the first formal review of its 86bn euro bailout programme agreed in July 2015
Greece's creditors would pay a first 7.5bn-euro tranche in June and the rest in a series of later disbursements.
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