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Eurozone allows new Greek bailout, but default clock still ticking
Published in Saudi Press Agency on 13 - 07 - 2015

Eurozone leaders avoided an imminent Greek exit from the eurozone Monday by agreeing to launch negotiations on a new bailout programme for the cash-strapped country following marathon talks in Brussels, dpa reported.
Greek Prime Minister Alexis Tsipras said Monday's deal had involved "difficult decisions and hard dilemmas."
The new three-year bailout, estimated at between 80 and 86 billioneuros (89-95 billion dollars), is subject to approval by several national parliaments, including those of Greece and Germany, the biggest creditor nation in the eurozone.


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