BREAKING: Greece Seals New Bailout Deal To Avoid Euro Exit

Mr Donald Tusk (L) with Greek PM Alexis Tsipras (M) and Greek Finance Minister Euclid Tsakalotos ahead of the emergency summit in Brussels.
Mr Donald Tusk (L) with Greek PM Alexis Tsipras (M) and Greek Finance Minister Euclid Tsakalotos ahead of the emergency summit in Brussels.

Mr Donald Tusk (L) with Greek PM Alexis Tsipras (M) and Greek Finance Minister Euclid Tsakalotos ahead of the emergency summit in Brussels.

Eurozone leaders have reached a “unanimous” agreement over a third Greek bailout after marathon talks. EU Chairman Donald Tusk said leaders agreement over a third Greek bailout after marathon talks. EU Chairman Donald Tusk said leaders agreed “in principle” on negotiations for the bailout “which in other words means continued support for Greece.” “There will be no ‘Grexit’,” said European Commission chief Jean-Claude Juncker, referring to the fear that Greece would have to leave the euro. Greece will now have to pass reforms demanded by the eurozone by Wednesday. Prime Minister Alexis Tsipras told reporters that Greece had fought a “tough battle”, won debt restructuring, and sent a message of dignity to all of Europe. “The deal is difficult but we averted the pursuit to move state assets abroad,” he said. “We averted the plan for a financial strangulation and for the collapse of the banking system.” Parliaments in several eurozone states also have to approve any new bailout. Jeroen Dijsselbloem, the head of the eurozone group of finance ministers, said the agreement included a €50bn Greece-based asset fund, of which €25bn would be used to recapitalise Greek banks. Eurozone leaders had been meeting in Brussels for about 17 hours, with talks continuing through the night.

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Chukwunonso Azinge is a Public health parasitologist whose variety of intrests ranges from international news reportage, writing articles on current world issues and of course football. Follow me on Twitter @azingelfc and on Facebook- Nonso 'King Kenny' Azinge.

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