Greece reaches deal with creditors to release more bailout cash

Published: Tuesday 17th November 2015 by The News Editor

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The Greek government has reached an agreement with European creditors on economic measures it must take before it can get its next batch of bailout cash.

Pierre Moscovici, the European Union’s top economy and finance official, said the agreement has been “reached on the remaining measures needed to complete the first set of milestones”.

Greece has to meet certain targets and legislate on reforms before it can get funds from the bailout programme worth up to 86 billion euro (£60 billion) it agreed on with eurozone partners this summer.

Mr Moscovici said that Greece could get two billion euro (£1.4 billion) in loans and 10 billion euro (£7 billion) to recapitalise its banks if its MPs approve the latest economic reform measures on Thursday.

He added: “This is a good day.”

Published: Tuesday 17th November 2015 by The News Editor

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