Eurozone agrees debt relief for Greece | The Daily Star
12:00 AM, December 07, 2016 / LAST MODIFIED: 12:00 AM, December 07, 2016

Eurozone agrees debt relief for Greece

Eurozone finance ministers on Monday approved new debt relief measures to alleviate Greece's colossal debt mountain in the wake of its huge 86-billion-euro bailout, but at levels far short of those demanded by the IMF.

"The Eurogroup endorsed today the full set of short-term measures," including extending the repayment period and an adjustment to interest rates, the eurozone's 19 finance ministers said in a statement.

The ministers accorded Athens the small measures to reduce Greece's debt as a reward for completing the latest round of reforms demanded in the country's massive bailout programme -- its third since 2010.

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