Greece will not leave the eurozone: Belgian Prime Minister Charles Michel revealed on his Twitter account this morning (Monday) that an agreement has been reached with Greece. Michel is participating in the Eurozone Finance Ministers' Summit.
The agreement consists of confidence-building measures designed to eventually lead to a comprehensive European bailout program in exchange for key reforms in the Greek economy. The eurozone will immediately transfer 50 billion euros to Greek banks, which are on the verge of collapse, and to the Greek economy.
The Greek government is required to pass a long series of economic decrees and cuts in parliament by this Wednesday.
It should be noted that Greece has so far opposed some of the reforms, and for them it went to a referendum only a week ago. There are many voices in the Greek government, including the speaker of the Greek House of Representatives, who have announced their opposition to the plan, which is "designed to humiliate the Greeks.".
Prime Minister Alexis Tsipras said today: "We have fought very hard abroad, and now a very hard fight awaits us at home.".
According to the outline reached, there will be a discussion on the distribution of Greek debt, without a promise of a "haircut" of Greece's national debt, which stands at 320 billion euros. Greece will also receive 35 billion euros in a loan that will allow its economy additional breathing space.
""I believe that trust between the parties can be restored," said the German Chancellor this morning - and François Hollande, the President of France, admitted: "At certain moments we feared that the eurozone would lose one of its members, Greece.".
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