Eurozone leaders reach 'agreement' on Greece debt deal

Eurozone leaders strike Greece debt deal

Eurozone leaders reach 'agreement' on Greece debt deal

Eurozone leaders have reached an "agreement" on a new bailout deal for Greece following overnight talks in Brussels.

Jean-Claude Juncker, the president of the European Commission, said there would not be a "Grexit" following "laborious" talks.

Richard Edgar said "big questions" remained over whether the Greek Parliament would approve the package.

Greek deal despite loss of 'most important currency, trust'

German Chancellor Angela Merkel said that a deal was struck over the Greek crisis despite the recent loss of trust, which she called, "the most important currency."



This success has come in spite of the fact that in the past few weeks and months, the most important currency, namely trust, was indeed lost between us, but as we all know, paper is patient.

In other words, (going forward) step by step, what will be important will be to implement what we have agreed on during the night. In the opening paragraphs of this document, we point to the fact that trust needs to be rebuilt, that those in charge in Greece have  to take responsibility for what we have decided here politically in order to be able to implement all of it.– ANGELA MERKEL

Greek PM: We will continue to fight to return to growth

The Greek Prime Minister has said his country "will continue to fight to return to growth" after accepting a bailout deal.
Alexis Tsipras told a news conference it had been a "tough battle" with "difficult decisions" but he had managed to "avert a banking system collapse" and stay in the Euro.

Terms of the deal:

The terms of the deal will include debt restructuring and a debt package of €35bn.
'Loss of Greek sovereignty' with €50bn privatisation fund.
Greece will see a 'key loss of sovereignty' with the €50bn fund, as part of the eurozone deal, ITV News Economics Editor Richard Edgar reports

Jean-Claude Juncker: 'There is no Grexit'

Jean-Claude Juncker, the president of the European Commission, has said there will not be a "Grexit" after agreement was reached on a new Greece debt deal following "laborious" talks in Brussels.

ITV News' Richard Edgar reports
Today, we had only one objective: to reach an agreement. After 17 hours of negotiations, we have finally reached it. One can say that we have 'agreekment'. Leaders have agreed in principle that they are ready to start negotiations on an ESM programme, which in other words means continued support for Greece.

There are strict conditions to be met. The approval of several national parliaments, including the Greek parliament, is now needed for negotiations on an ESM programme to formally begin.

Nevertheless, the decision gives Greece a chance to get back on track with the support of European partners– JEAN-CLAUDE JUNCKER, THE PRESIDENT OF THE EUROPEAN COMMISSION

'Big questions' over Greek parliament approving deal:

Questions remain over the Greek deal as it must still be approved by the Greek parliament.

Eurozone leaders Greek deal was 'unanimous'
The deal reached over the Greek deal was a 'unanimous' agreement, EU President Donald Tusk has said