Eurozone reaches agreement on Greece


Europe - shutterstoc#D909E6Eurozone leaders have now come to a unanimous agreement over the details of a third Greek bailout following emergency talks.

For now, while the specific details remain unclear, it appears that Greece has secured what is being billed as a growth package valued at €35 billion (£25 billion). The country will have to pass the demanded reforms by Wednesday, which could include tax rises and spending cuts, despite the Greek public voting against such measures in the recent referendum.

Greece will remain part of the EU and the eurozone.

It is presumed that most of the third bailout package will be used to refinance Greek banks, which could be back open as early as this week, following closures and limits on withdrawals.