herald

Monday 20 August 2018

Greece bailout ready

EUROZONE officials have virtually signed off on a new three-year bailout for Greece, sources close to negotiations have confirmed.

The official deal will have to wait for a meeting of eurozone finance ministers due to take place later this month but it's believed that a new package was negotiated by Europe's Economic and Financial Committee (EFC).

The deal now being proposed is essentially an extension of the current Greek bailout and will run till mid-2014 with increased external funding, deeper austerity and some buy-in expected from banks.

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