Marathon meeting in Brussels ends in agreement after IMF waters down its demands to placate Germany and payment is split into two tranches European officials have agreed to unlock €10.3bn in bailout money for Greece as the International Monetary Fund made a significant climbdown in its demand for upfront debt relief for the recession-hit country. Greece’s international creditors emerged from an 11-hour meeting in Brussels at 2am on Wednesday with an agreement to take some steps to ease the burden of Greece’s €321bn (£245bn) debt mountain, worth 180% of annual economic output. Continue reading...
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