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Eurozone ministers back 130bn-euro bailout for Greece
Eurozone finance ministers have reached agreement on a vital second bailout for heavily indebted Greece.
The deal, which came after more than 13 hours of talks in Brussels, will provide Athens with loans worth more than 130bn euros (£110bn; $170bn).
Greece needs the funds to avoid bankruptcy on 20 March, when maturing loans must be repaid.
In return, Greece will undertake to reduce its debts to no more than 120.5% of its GDP by 2020.
After five straight years of recession, Greece’s debts currently amounts to more than 160% of its Gross Domestic Product.
The euro rose on reports of the deal.
