19-11-15

Greece and its lenders reach deal to unlock fresh rescue money

Main sticking point was easing restrictions to evict homeowners who have fallen into arrears on their mortgages

Finance Minister Tsakalotos: It was a difficult negotiation

Greece and its international creditors have reached agreement on the country’s next round of reforms. The deal will unlock 12 billion euros of fresh rescue money. The main sticking point centered around easing restrictions to evict homeowners who have fallen into arrears on their mortgages. The breakthrough was a formula for providing some overly indebted homeowners protection from foreclosure. “It was a difficult negotiation,” Greece’s finance minister, Euclid Tsakalotos, said. cep economist Matthias Kullas said he hoped the compromise will not negatively impact on bank lending in the future.