The 17 European Union nations that use the euro have struck an agreement with the International Monetary Fund on a program to reduce Greek debt and put Athens on the way to more bailout loans.
The first disbursement is set to take place Dec. 13, said Jean-Claude Juncker, head of the eurogroup of finance ministers, after Tuesday’s decision.
Mario Draghi, President of the European Central Bank, said markets should pay heed. “It will certainly reduce the uncertainty and strengthen confidence in Europe and in Greece.”
In Athens, Prime Minister Antonis Samaras welcomed it as a great victory.