Eurozone leaders have agreed in a crucial summit to find a way out for Greece to manage its debt crisis.
“(The) statement by the heads of state or government of the Euro area and EU institutions is approved,” Van Rompuy wrote on the Twitter micro-blogging website without providing more details.
On the agenda was the idea of emergency loans for Greece and overhaul of the eurozone’s bailout fund in an attempt to stop the debt crisis from engulfing larger countries like Spain or Italy.
A draft document was discussed by the eurozone leaders which stated that private creditors could agree to contribute to a second rescue package for Greece.
According to the draft, the eurozone is ready to extend the average maturities for Greece’s official loans to 15 years, at an interest rate of 3.5 per cent.
The draft also foresees new powers for the bailout fund, such as precautionary credit lines and the right to buy bonds on the open market.
The new bailout could supplement the 110bn euro ($156bn) rescue plan for Greece launched in May last year.
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