Greece

Greece Reaches Agreement with Lenders on Bailout

Requires reducing number of government jobs

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Greek authorities reached a tentative agreement with international lenders on Monday morning, clearing the way for eurozone finance ministers to approve its next bailout tranche, which would remove one of the biggest challenges to Athens' €172bn rescue plan in more than half a year.

In a statement, negotiators for the "troika" of lenders – the European Commission, European Central Bank and International Monetary Fund – said the staff-level deal included agreement on the most vexing issue, the reduction of public sector staffing.