Eurozone unlocks €10.3bn bailout loan for Greece

Meeting in Brussels ends in agreement at 2am after IMF waters down its demands to placate Germany and payment is split into two tranches

Greece's 'breakthrough' debt deal - business live

European officials have agreed to unlock a10.3bn 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 having agreed on steps to ease the burden of Greece's a321bn (245bn) debt mountain, worth 180% of annual economic output.

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