Greek Prime Minister Calls Eurogroup's Bailout Exit Deal 'Historic'

19:12 GMT, 22 June 2018

ATHENS (Sputnik) - Greek Prime Minister Alexis Tsipras called the decision of the Eurogroup on the country's exit from the third bailout program "historic," as it makes the Greek public debt viable, and expressed confidence that Greek people will soon see positive changes.

Sputnik

"Yesterday there was a historic decision, as the entire international media says — the Eurogroup's agreement on Greek debt. Greek debt becomes viable. This is an extremely important event… I believe that June 21, 2018, will remain in history as a very important day for Europe, this is a new page for the country. This does not mean that we should abandon the reasonable path of budgetary balance and structural reforms that the country needs," Tsipras said.

European Commission: Creditors Strike Deal on Greece Reforms

20 May 2018, 12:27 GMT

Eurogroup President Mario Centeno announced in the early hours of Friday a debt relief package to safeguard Greece’s debt sustainability, including a 10-year extension on loans by the European Financial Stability Facility (EFSF), the eurozone's temporary crisis fund, and a 10-year deferral on interest.

Greece, he said, will now join Ireland, Spain, Cyprus and Portugal in the ranks of eurozone countries that once again "stand on their own feet," in return for long-term budget and reform commitments.

The Eurogroup of euro-area finance ministers — met in Luxembourg on Thursday and clinched a deal on Greece's exit from the bailout program. They pledged $15 billion in the last tranche and $24 billion more as a cash buffer to last Athens for 22 months.