This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at https://www.nytimes.com/2017/05/02/business/greece-debt-crisis-eu-deal.html

The article has changed 9 times. There is an RSS feed of changes available.

Version 0 Version 1
Greek Official Says Deal Reached With E.U. on Bailout Overhauls Greek Official Says Deal Reached With E.U. on Bailout Overhauls
(about 3 hours later)
TOKYO — A Greek official said on Tuesday that his country had reached a deal with its creditors that would allow it to receive critical emergency funds in return for promises to raise taxes and cut social spending. A Greek official said on Tuesday that his country had reached a deal with its creditors that would allow it to receive critical emergency funds in return for promises to raise taxes and cut social spending.
The agreement, the culmination of six months of talks between Greece, the European Union and the International Monetary Fund, was seen as essential to avoid a fiscal meltdown in Athens, where the government faces a 7 billion euro, or about $7.6 billion, debt repayment in July.The agreement, the culmination of six months of talks between Greece, the European Union and the International Monetary Fund, was seen as essential to avoid a fiscal meltdown in Athens, where the government faces a 7 billion euro, or about $7.6 billion, debt repayment in July.
Under the agreement, Greece will make changes to its labor and energy markets, cut pension payouts and increase taxes, Greece’s finance minister, Euclid Tsakalotos, told reporters, according to Reuters.Under the agreement, Greece will make changes to its labor and energy markets, cut pension payouts and increase taxes, Greece’s finance minister, Euclid Tsakalotos, told reporters, according to Reuters.
“There was white smoke,” Mr. Tsakalotos was quoted as saying, alluding to the method used by the Vatican to signal an agreement in the selection of a new pope. The Athens News Agency quoted him in a similar way.“There was white smoke,” Mr. Tsakalotos was quoted as saying, alluding to the method used by the Vatican to signal an agreement in the selection of a new pope. The Athens News Agency quoted him in a similar way.
“The way has now been paved for debt relief talks,” he said, according to Reuters.“The way has now been paved for debt relief talks,” he said, according to Reuters.
Further discussions will include ways of decreasing Greece’s debt.Further discussions will include ways of decreasing Greece’s debt.