[New post] Greece & lenders agree on bailout terms..Tsipras lied

Protesters hold an EU flag and a Greek flag (L) as people gather at the entrance of the Greek parliament, during a rally calling on the government to clinch a deal with its international creditors and secure Greece's future in the Eurozone, in Athens June 18, 2015.

http://www.rt.com/business/312149-greece-creditors-bailout-deal/

Greece and its creditors have agreed on a third austerity deal, involving loans of up to €86 billion, the European Commission has confirmed. The agreement comes after 18 hours of negotiations overnight.

"Ultimately, the agreement has been reached at the technical level in Athens," the representative said Tuesday, TASS reported.

Greek Finance Minister Euclid Tsakalotos said "two or three small details" still need to be resolved.

The International Monetary Fund, one of Greece's key creditors, has also signed up to the agreement. At the end of July the body said it wouldn't join the bailout unless Athens agreed to a "comprehensive set of reforms" and creditors for debt relief.

On Tuesday, the Greek Finance Ministry said its government and the international creditors managed to agree on the two major issues – a new privatization fund that will accumulate state assets worth around €50 billion over the next 30 years and the game plan to tackle the problem of overdue loans totaling €90 billion.

Negotiations on the technical agreement will conclude later on Tuesday. European Commission President Jean-Claude Juncker will speak with French President Francois Hollande and German Chancellor Angela Merkel later today, FT reports.

Earlier, it was reported that the two sides had agreed on a target for 2015 of a primary budget deficit of 0.25 percent of GDP, moving to a primary surplus in 2016 of 0.5 percent of GDP. In 2017, the primary surplus target is 1.75 percent, rising to 3.5 percent in 2018, ANA news agency reported.

http://finance.ninemsn.com.au/newsbusiness/9017910/greece-reaches-new-billion-dollar-bailout-deal

Greece's government has reached the outline of a deal for an international bailout worth 85 billion euros ($128 billion) to save its stricken economy from collapse.

The European Commission said Athens and its creditors had reached a technical agreement "in principle" on a bailout -- the third for the debt-crippled country since 2010 -- after marathon talks stretching into the early hours.

"What we don't have is a political agreement," said Commission spokeswoman Annika Breidthardt, hours after Athens suggested the deal was all but done.

Greece and its creditors -- the EU, the European Central Bank, the eurozone bailout fund and the International Monetary Fund -- are under pressure to finalise the deal by August 20 when Athens must repay some 3.4 billion euros to the ECB.

The draft agreement comes after months of acrimonious negotiations between the creditors and Greece's radical-left government, which came to power in January promising an end to years of painful austerity demanded in exchange for the cash.

http://www.theguardian.com/world/2015/aug/11/greek-stock-market-surges-government-outline-bailout-deal-creditors

Greece's stock market has surged on news that the indebted country and its creditors have reached an outline agreement over an €86bn (£61bn) bailout.

Athens' benchmark ATG equity index closed up 2.1%, while the country's banking index also climbed 3%, although they remain down 15% and nearly 70% respectively since the start of 2015. Under the terms of the bailout the country's struggling banks would get an immediate €10bn and be recapitalised by the end of 2015, meaning "absolutely no risk of a haircut on deposits", a government statement said.

Greece's prime minister, Alexis Tsipras, on Tuesday called an emergency session of parliament to vote on the country's third financial rescue in five years.

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tsipras is now delivering the pain and austerity he said he wouldnt do..and its going to hurt even more than before..so what happens to syriza now?

the stock market surged..they love austerity measures..

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