Eurozone agrees €130bn Greek bailout

In return for the loans, Greece will aim to reduce its debt to 120.5% of GDP by 2020 and accept an "enhanced and permanent" presence of EU monitors to oversee economic management. Eurozone finance ministers agreed the bailout after late-night talks in Brussels. The euro rose sharply against the dollar as news of the loan was announced. The single currency climbed to $1.3293 on the news, a two-week high, before retreating marginally to $1.3282. The main losers in the deal are bondholders who will take losses of 53.5% on the value of their bonds. However, this could rise to as muc...