Greek debt crisis: Greece, lenders reach bailout deal - Greece and international creditors settled on a new multi-billion euro bailout deal on Tuesday, said a finance ministry official, in an agreement which will keep the country in the eurozone and prevent bankruptcy.
After lengthy overnight talks between Greece and lenders in Athens, a finance ministry official told reporters, "An agreement has been reached. Some minor details are being discussed right now."
"Two or three small issues," are pending with lenders, Greek finance minister Euclid Tsakalotos told reporters after marathon talks with European institutions and the International Monetary Fund in Athens.
Greece needs up to 86 billion euros to avoid a financial meltdown and maintain its position in the eurozone. At least 3.0 billion is needed by August 20 to settle a debt to the European Central Bank.
Previously, a senior Greek finance ministry official said the two sides had settled on a wealth fund to handle privatizations and how to deal with non-performing loans in its banking sector. Both issues had been key obstacle in negotiations.
"Finally, we have white smoke," the official said.