Greece Agrees On Terms For Third Bailout With Its Lenders

By Karen FriarMarketWatch Pulse

Greece and its international creditors have reached an agreement on the measures needed to secure a third bailout for the country, a Greek government official said Tuesday. "Deal completed. Some details left," Theodoros Mihopolous, a spokesman for the Greek government, said in a post to Twitter. Athens has confirmed an agreement has been struck, media outlets reported. Greece and its four lenders -- the European Commission, the International Monetary Fund, the European Central Bank and officials from the eurozone bailout fund -- have been holding long negotiations since Saturday on the economic reforms needed for Athens to secure a third bailout program worth up to 86 billion euros ($94 billion). Greece is under pressure to arrange more funding before Aug. 20, when €3.2 billion of Greek government bonds owned by the ECB fall due.

Copyright © 2015 MarketWatch, Inc.

Continue Reading Below