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Greece and Creditors Agree on Bailout Deal

Agree Bailout DealGreece and international creditors have agreed on a new multi-billion euro bailout agreement after the two negotiating teams spent the last 24 hours checking the text line by line, a Finance Ministry official said.
The agreement will keep Greece in the Eurozone and the country will avert bankruptcy. Now the deal will go to a vote in the Greek Parliament.
“An agreement has been reached. Some minor details are being discussed right now,” a Finance Ministry official said after marathon overnight talks.
According to Finance Ministry sources, the two sides reached an accord after mutual concessions on “thorny” issues such as red loans, the state assets fund and the energy market.
Earlier, Greek Finance Minister Euclid Tsakalotos had said “two or three small details” are still pending in the negotiations.
The final list of prior actions is 27 pages long and it is one of the articles of the omnibus bill that will go to a vote in parliament. The other article will be the Memorandum of Understanding and the loan agreement.
After the bill passes through the Greek Parliament, the deal must be sent to Eurozone Finance Ministers, who will then have to proceed with having it approved by their respective parliaments.
The deal was expected to be reached ahead of a looming European Central Bank (ECB) repayment of 3.4 billion euros scheduled for August 20.

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