Political leaders in Greece have finally reached agreement on austerity measures which will allow it to draw down €130 billion in bailout funding.
After a series of postponed meetings the leaders of the political parties which make up the Greek coalition government reached a deal with the IMF and ECB to access funding and stave off bankruptcy.
It is understood the sticking point which delayed a positive outcome centred on pension cuts.
The European Central Bank (ECB) says it is not in a position yet to discuss whether it will help Greece by foregoing the interest due on the Greek government bonds that it has purchased.
But ECB President Mario Draghi says the EU Finance Ministers meeting in Brussels later will discuss what happens next.
