Greece’s third bailout agreed ‘in principle’

“What we don’t have <g data-gr-id="25">is</g> a political agreement,” said Commission spokeswoman Annika Breidthardt, hours after Athens suggested that the deal was all but done.

Hammered out after marathon talks in Athens stretching into the early hours of Tuesday, the accord comes with financing of 85 billion euros ($94 billion), the Greek government said.

Breidthardt said the Economic and Financial Committee, which coordinates EU-wide economic policy, would make a conference call to all 28 member states to enable them “to take stock” of the accord.

Greece and its creditors –the EU, the European Central Bank, the eurozone bailout fund and the International Monetary Fund –are hoping to finalise the deal by August 20 when Athens must repay some 3.4 billion euros to the ECB.

Both sides said details remained to be hammered out, but Athens was planning to submit it to parliament later in the day.

The chamber is expected to vote on the accord on Thursday, and <g data-gr-id="23">eurozone</g> finance ministers could be asked to approve it the next day.

A finance ministry source told AFP that the remaining details “do not affect the main body of the agreement.” 

The Athens stock market rose 1.39 <g data-gr-id="24">per cent</g> on Tuesday after three straight days of gains. State broadcaster ERT on Tuesday said Prime Minister Alexis Tsipras had spoken to German Chancellor Angela Merkel, French President Francois Hollande, European Commission chief Jean-Claude Juncker and European Parliament chairman Martin Schultz about the accord.