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'There will not be a Grexit'

Published by Metro India News Online on July 13, 2015 16:33:29 PM

After more than 17 hours of marathon talks, European leaders reached a unanimous deal over third bailout for Greece at the Euro Summit on Monday.

According to a BBC report, the bailout programme, which is worth up to 86 billion euros ($96 billion) is all set to go for Greece with strict reforms and financial support. This is the third rescue deal in five years.

European Commission head Jean-Claude Juncker said, "There will not be a 'Grexit' (Greek exit from the eurozone) and further added that there are no winners or losers, I don't think the Greek people have been humiliated and I don't think other European countries have lost face."

Alexis Tsipras, Prime Minister of Greek has accepted the tough reforms imposed by international lenders and Greece is likely to pass reforms by Wednesday. The terms of the deal were not immediately known.