Eurogroup reaches agreement on final loan and debt relief for Greece

Greek parliament

Greek parliament

The Eurogroup ministers reached an agreement in principle on the size of the last loan tranche to Greece and debt relief measure, early on Friday morning, according to a Eurozone source in Luxembourg.

According to the source, Eurogroup ministers agreed that the final loan tranche to Greece will total 15 billion euros. In addition, he said, a ten-year extension was granted for the repayment of EFSF loans, with a ten-year grace period.

The agreement will be formally ratified by the Eurogroup.

Greece was at the top of the agenda during the Eurogroup's meeting in Luxembourg on Thursday, which was expected to assess the progress on Greece's implementation of prior actions required for the fourth and final review of its program, scheduled to end in August.

*Source: ANA

GCT Team

This article was researched and written by a GCT team member.