Eurozone Reaches Deal on Greek Debt, Ready for Credit Talks With Athens

The leaders of the Eurozone are ready to start negotiations with Greece on its new credit program, European Council President Donald Tusk said Monday.

MOSCOW (Sputnik) – The leaders of the Eurozone have reached a unanimous agreement on Greece’s economic crisis, European Council President Donald Tusk said Monday.

EuroSummit has unanimously reached agreement. All ready to go for ESM programme for #Greece with serious reforms & financial support

— Donald Tusk (@eucopresident) 13 июля 2015

Following national procedures, the #Eurogroup will work with the Institutions to swiftly take forward the negotiations. #Greece

— Donald Tusk (@eucopresident) 13 июля 2015

The European Union’s finance ministers will immediately begin discussing how to help Greece in the short-term.

Finance ministers will as a matter of urgency discuss how to help #Greece meet her financial needs in the short term (bridge financing).

— Donald Tusk (@eucopresident) 13 июля 2015

Earlier in the day, German Chancellor Angela Merkel, French President Francois Hollande, Greek Prime Minister Alexis Tsipras and European Council President Donald Tusk presented the compromise agreement on Greece's debt issue at Euro summit following Sunday's talks in the quadripartite format in Brussels.

On July 5, Greek voters rejected in a nationwide referendum a lender-proposed bailout plan. On July 9, Athens submitted to its creditors a revised debt settlement plan.

Greece owes $270 billion to its main creditors — the European Central Bank, the International Monetary Fund, and some Eurozone countries.