Monday 11 December 2017

Greece agrees bailout deal with Eurozone

Greek prime minister Alexis Tsipras and Finance Minister Yanis Varoufakis
Greek prime minister Alexis Tsipras and Finance Minister Yanis Varoufakis
Colm Kelpie

Colm Kelpie

THE Greek government has agreed to extend its bailout for four months.

The decision was made this evening following a meeting of Eurozone finance ministers and is seen as a blow to Greece which had hoped for some sort of debt write-down.

Austrian Finance Minister Hans Joerg Schelling said “we agreed on four months under conditions”

after euro-area finance ministers met to discuss Greece.

The deal was reached under condition “that Greece submits a list on Monday and that the institutions check whether the list is sufficient,” Schelling told reporters in Brussels

German Chancellor Angela Merkel and French President Francois Hollande said earlier that  Europe wants to keep Greece in the euro area as the bloc’s finance ministers met in Brussels to seek an aid deal.

Mrs Merkel, commenting at a news conference in Paris on Friday after talks with Mr Hollande, said the request for an extension of aid put forward a day earlier by the Greek government requires further negotiation.

Read More: Noonan: Difficult to know whether there'll be a deal on Greece tonight

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