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World

Euro zone hails 'breakthrough' with Greece

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Opening sequence

World

Euro zone hails 'breakthrough' with Greece

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COMING UP:Euro zone hails 'breakthrough' with Greece

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Transcript

00:00:01
>> Eurozone finance ministers extending another lifeline to Greece, after what they say is a major breakthrough, agreeing to release 10.3 billion euros in new funds.>> This is very good news.>> And even better news for Athens, talk of debt relief. The late night meeting in Brussels producing an offer to ease the country's debt, if necessary, but not until at least 2018 and only under certain conditions.
00:00:28
>> The International Monitory Fund, which has been a partner throughout the Greek programs of the last six years, came into this meeting demanding that the Europeans should promise Greece debt relief. In the form of a long term stretching out of the loans that they've given Greece as a way of making Greece's debt sustainable.
00:00:50
They didn't achieve that. The overall result of this is that debt relief for Greece is still something that's rather uncertain and in the future.>>
FOREIGN]
> The breakthrough comes days after the country approved new tax hikes and spending cuts but while the painful measures secured a deal that doesn't make them popular back home.
00:01:12
Greek port workers plan to walk off the job on Thursday for 48 hours.