Eurozone agrees 'breakthrough' Greek debt deal

IMF to stay on board

Greece's creditors have agreed to extend further bailout loans to the country, alongside debt relief, in what they have called a "major breakthrough".

The eurozone finance ministers agreed to unlock €10.3bn in new loans after marathon late-night talks in Brussels, the BBC wrote. They also agreed a package of debt relief for the country and, crucially, managed to keep the International Monetary Fund (IMF) on board. The debt restructuring will be phased in progressively over the short, medium and long term. The IMF had warned Greece's public debt was unsustainable at current levels of about 180% of its gross domestic product. "We achieved a major breakthrough on Greece which enables us to enter a new phase in the Greek financial...