Greece reaches long-delayed deal with international lenders on next bailout loans

Associated Press + More

ATHENS, Greece (AP) — Greece says it has reached an agreement with its international debt inspectors that will allow the release of a long-delayed rescue loan installment.

Prime Minister Antonis Samaras said Tuesday that the agreement does not include the requirement for any new austerity measures. Finance Minister Yannis Stournaras said the text of the deal was being written up.

The agreement comes after six months of often stalled talks with officials from the International Monetary Fund, European Central Bank and European Commission. Negotiations had snagged on several issues, including public sector firings and market reforms.

Greece has depended on its bailout from other European countries and the IMF since mid-2010. Payment of the rescue loans depend on the country meeting criteria in spending cuts, tax increases and reforms.

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