Euro zone, IMF agree new deal Greek debt deal

Euro zone finance ministers struck a new deal with the IMF early on Tuesday to slice more than 40 billion euros (US$52 billion) off Greece’s massive debt burden by 2020 – in turn freeing up long-blocked loans.

“The decision will certainly reduce the uncertainty and strengthen confidence in Europe and in Greece,” said European Central Bank President Mario Draghi as he welcomed the agreement on leaving the talks.

via Business feed http://www.scmp.com/business/economy/article/1091939/euro-zone-imf-agree-new-deal-greek-debt-deal