In the Irish independent today it is reported that the EuroZONE finance ministers and the IMF agreed to reduce Greece's debt in a breakthrough to release loans to keep the economy afloat.
After 12 hours of talks at their third meeting in as many weeks, Greece's international lenders agreed on a package of measures to reduce Greek debt by €40 billion, cutting it to 124 percent of gross domestic product by 2020.
It is also reported that to reduce the debt pile, they agreed to cut the interest rate , extend their maturity by 15 years to 30 years, and grant Athens a 10-year interest repayment deferral.
For full report please click on link to Irish independent
www.independent.ie/business/video-euimf-agrees-deal-to-cut-greek-debt-by-40bn-3308156.html