Greece and creditors in deal to release more bailout cash

Staff Writer
Columbus CEO

BRUSSELS (AP) — The Greek government has reached an agreement with European creditors on economic measures it must take before it can get its next batch of bailout cash.

Pierre Moscovici, the European Union's top economy and finance official, said Tuesday the agreement has been "reached on the remaining measures needed to complete the first set of milestones."

Greece has to meet certain targets and legislate on reforms before it can get funds from the bailout program worth up to 86 billion euros ($92 billion) it agreed on with eurozone partners this summer.

Moscovici said Tuesday that Greece could get 2 billion euros in loans and 10 billion euros to recapitalize its banks after its lawmakers approve the latest economic reform measures on Thursday.

He added: "This is a good day."