image
Euro zone reaches agreement on Greece, offers third bailout
Brussels, July 13 (IBNS) Leaders of Eurozone have unanimously decided to go ahead with a third bailout loan for near bankrupt Greece, said European Council President Donald Tusk after a crucial meeting here to keep Greece in the Euro zone.
"Euro Summit has unanimously reached agreement. All ready to go for ESM programme for #Greece with serious reforms & financial support," tweeted Tusk after nightlong meeting.
He said finance ministers will as a matter of urgency discuss how to help Greece meet her financial needs in the short term (bridge financing).
Following national procedures, the Eurogroup will work with the Institutions to swiftly take forward the negotiations, he said.
The people of Greece earlier gave a resounding rejection in a referendum to the Eurozone’s austerity terms for a bailout.
Writing on his blog on Monday morning he said that he would be stepping down immediately after pressure from Greece’s European partners.
Greeks on July 5 delivered a rebuff to Europe's leaders, decisively turning down a deal offered by the country's creditors.
More than 61 percent of the voters had said no to a deal that would have imposed greater austerity measures on the beleaguered country, facing a prolonged recession, high unemployment and banks being perilously low on capital.
Greece defaulted on an International Monetary Fund loan repayment, becoming the first developed nation to do so.
The voters' 'no' could have the cash-starved Greece to a new path forcing it to start issuing its own currency and become the first country to leave the 19-member Eurozone, established in 1999.
The no votes gave a sweeping victory to Prime Minister Alexis Tsipras, a leftist who came to power in January vowing to reject new austerity measures.
Tsipras after the vote went on television briefly to say he would resume negotiations immediately. He said that the vote was not a mandate for "rupture" with Europe and that it would strengthen his ability to negotiate a "viable'' future for Greece in the Eurozone.
Top Headlines
-
News
Handshake, brief chat: Modi and Trump meet at G7 Summit
June 16, 2026
-
News
Boost for Congress! Vijay allots Tamil Nadu's lone Rajya Sabha seat to key ally
June 04, 2026
-
News
Vijay meets PM Modi in Delhi; raises Mekedatu Dam row, Tamil anthem demand
May 27, 2026
-
News
Sona College announces admissions to BTech in Computer Science, IT, AI-ML & Data Science
May 22, 2026
-
News
PM Modis Melody gift to Meloni sends wrong Parle stock soaring
May 20, 2026
-
News
NEET-UG to shift to Computer-Based test mode from 2027, says Dharmendra Pradhan; experts welcome move
May 17, 2026
-
News
Blaze on Rajdhani Express sparks panic near Kota, passengers escape unhurt
May 17, 2026
-
News
Sona College of Technology launches Sona ChipIN Centre with latest semiconductor EDA tools
May 16, 2026
-
News
ECI announces third phase of SIR; Himachal, J&K, Ladakh excluded for now
May 14, 2026
-
News
Putin unleashes Satan 2: Russia tests ICBM with 35,000 km range
May 13, 2026
