Eurozone finance ministers agreed on Friday to approve a third
bailout programme for Greece, with the first tranche of aid to be worth
€26 billion.
Eurogroup chairman Jeroen Djisselbloem said that "of
course there were differences, but we have managed to solve the last
issues."
To recapitalise Greek banks €10 billion will be made available, while a second tranche of €16 billion will be paid out in several installments, starting with a €13 billion installment by August 20 when Greece must make a new debt payment to the European Central Bank (ECB).
"On this basis, Greece is and will irreversibly remain a member of the Euro area," said European Commission President Jean-Claude Juncker after the deal was sealed.
Read more: france 24 - Eurogroup approves third bailout for debt-ridden Greece - France 24
To recapitalise Greek banks €10 billion will be made available, while a second tranche of €16 billion will be paid out in several installments, starting with a €13 billion installment by August 20 when Greece must make a new debt payment to the European Central Bank (ECB).
"On this basis, Greece is and will irreversibly remain a member of the Euro area," said European Commission President Jean-Claude Juncker after the deal was sealed.
Read more: france 24 - Eurogroup approves third bailout for debt-ridden Greece - France 24
