After a long meeting, Eurogroup reached in early Friday morning an agreement on Greece and on the debt relief measures. According to the Eurogroup’s final statement, the last tranche of the loans was agreed to 15 billion euros, the loan maturity period was agreed to prolong to 10 years and the forbearance period was also agreed to 10 years.
Eurogroup President Mário Centeno stated that Greece fulfilled all 88 prerequisites, and underlined the IMF’s active participation. In total, Greece will exit the program with a “safety pillow” of 25 billion euros for the rest 22 months. Greek Finance Minister Euclid Tsakalotos expressed the government’s satisfaction for the agreement, and stressed, “The debt is now sustainable and we can return to the markets.”