Greece and Europe reach bailout accord

Euro-zone leaders at a marathon emergency summit on Greece have reached a deal.

Several high-profile leaders have announced the deal over Twitter.

“Agreement,” the Belgian prime minister Charles Michel tweeted.

The Cyprus government spokesman tweeted: “Seems we have a deal.”

The European Council president Donald Tusk tweeted: “Euro summit has unanimously reached agreement. All ready to go for ESM programme for Greece with serious reforms and financial support.”

Specifics of the deal have not yet been announced.

European shares surged after all-night talks in Brussels to move forward with a bailout loan for Greece.

The euro zone’s blue-chip Euro Stoxx 50 index rose 1.3 per cent, while the pan-European FTSEurofirst 300 index was up 1 per cent in early trading.

Germany’s DAX, France’s CAC and Britain’s FTSE 100 rose 0.6 to 1.4 per cent.

The euro zone’s banking index also advanced 1.5 per cent.

business@thenational.ae

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