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EU Chairman Donald Tusk says that the eurozone leaders have come to an agreement for a third bailout for Greece. He says the leaders have agreed “in principle” after marathon 17-hour meeting, “which in other words means continued support for Greece.”
European Commision head Jean-Claude Juncker stated, “There will not be a Grexit.” He also explained that, “There are no winners or losers, I don’t think the Greek people have been humiliated and I don’t think other European countries have lost face.”
Chancellor Angela Merkel said, “The situation in Greece is a very tense one, it is in Greece’s interest to go through the steps to make this happen. I have no reason to doubt the time plan agreed, the laws have already been prepared. I think trust can be regained.”
The euro spiked against the dollar following news of the deal, but has now fallen again and is down 0.33%.
Speaking after the deal was agreed, Tspiras said, “We fought a tough battle. We face difficult decisions… We took the responsibility for the decision to avert the most extreme plans by conservative circles in Europe… We managed to restructure debt and secure medium term financing. Greece will continue the fight to be able to return to growth.”
Now Tsipras has to sell this deal to parliament, and the country – which, we should remember, voted decidedly against the conditions which the PM has just signed up to.
For more on the Greek debt crises, go to ADVFN’s Greek Crisis page: http://uk.advfn.com/greece-crisis.
