MOSCOW (Sputnik) – On Monday, leaders of the Eurozone reached an agreement on a new bailout package to support Greece in exchange for economic reforms in the country.
"#EuroSummit deal is important step for Greece & EU. Now national parliaments must take up their responsibility to secure progress made," Schulz said on his official Twitter account.
Heads of state & govts have unanimously agreed on #Greece deal. Now they must go on with the same commitment throughout the whole process
— EP President (@EP_President) 13 июля 2015
The aid program amounts to 86 billion euros ($95 billion) over three years. German Chancellor Angela Merkel, speaking about the size of the bailout package, added that Greek banks needed 25 billion euros ($27.7 billion) for recapitalization, and international creditors will not write off the debt.
Greece owes about $270 billion to its major international lenders, including the International Monetary Fund (IMF), the European Central Bank and some eurozone nations.
Athens defaulted on a $1.7 billion June IMF debt payment on June 30.
