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Economy

Greece crisis declared 'over' as eurozone agrees debt relief

Updated : June 22, 2018 08:17 AM IST

Eurozone ministers declared the end of the Greek debt crisis agreeing debt relief and a big cash payout for Greece, part of a broad bailout exit deal that will close eight years of financial rescues for cash-strapped Athens.
Greece is slated to leave its financial rescue on August 20 and finance ministers from the 19 countries that use the single currency were under pressure to offer Athens a goodbye deal that left it strong in the eyes of the financial markets.
"The Greek crisis ends here tonight," said EU Economic Affairs Commissioner Pierre Moscovici, after marathon talks in Luxembourg.
Greece crisis declared 'over' as eurozone agrees debt relief
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