| Series Title | EurActiv |
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| Series Details | 11.08.15 |
| Publication Date | 11/08/2015 |
| Content Type | News |
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EurActiv, Kathimerini and other news sources reported on the 11 August 2015 that Greece and its creditors had reached a technical agreement on the substance for a €86bn bailout deal to avert a default on the 20 August 2015 when €3.2bn was due to be repaid to the European Central Bank. The announcement on the 11 August 2015 followed extensive talks between Greece and its international creditors (IMF / EU / ECB). The Greek Parliament would have to agree to the deal, which included a major set of structural reforms in Greece before the funds would be disbursed. A vote was expected on the 13 August 2015. The Greek Parliament voted for the terms of the agreement in the morning of the 14 August 2015 after a stormy all night debate, with approximately one third of the Syriza party MPs voting against or abstaining on the deal. Prime Minister Alexis Tsipras would likely call for a vote of confidence in his government in the following days. A number of national parliaments in other Eurozone countries would also have to formally agree to the terms of the deal. Eurozone Finance Ministers were due to agree to the deal later on 14 August 2015. The European Commission announced on the 13 August 2015 that it had adopted the necessary draft Council decisions for a three-year programme under the European Stability Mechanism (ESM) for Greece. These documents were transmitted to the Council ahead of the Eurogroup meeting on the 14 August 2015. |
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| Source Link | Link to Main Source http://www.euractiv.com/sections/euro-finance/greece-agrees-bailout-deal-averts-default-316836 |
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| Countries / Regions | Europe, Greece |
