Greece clinches €86bn bailout as Germany gives go-ahead
August 15 , 2015
Greece has secured a three-year bailout worth €86 billion after the country’s parliament backed the deal and Germany climbed down from its opposition to the third rescue in five years.
A €26 billion bailout will be disbursed next week as part of the agreement finalized in a meeting of eurozone finance ministers.
Greece has pledged to carry out major fiscal and economic reforms.
Germany has been skeptical about the new bailout, but with most other creditors converging in favor of the deal, it eventually toned down its reservations.