Greece, creditors reach bailout and reform agreement

(Vatican Radio)  Greece and its creditors announced a long-awaited deal on the Greek bailouts early this morning. It removes one more hurdle to resuming bailout aid and reviving Greece’s banks.

Listen to John Carr's report:

After days of wrangling the Greek finance minister, Euclid Tskalotos, said the government agreed to 48 tough economic reforms in return for a green light for funds from the International Monetary Fund, European Central Bank, European Commission and European Financial Stability Mechanism – the so-called Quartet of creditors.

The deal still has to be ratified by the Greek Parliament, but few forecast any problems when it comes to a vote, probably at the end of this week. And all being well, that’s when 2 billion euros in bailout aid will flow, and Greeks could look forward to a relaxation of five months of capital controls.

Meanwhile, thousands of police were on guard in central Athens today against possible disturbances on a left-wing anniversary. 

It’s 42 years since students at Athens Polytechnic University rose up against the Colonels’ dictatorship of the time.

Tanks crushed the revolt, with some loss of life.  But on this day every year leftists march on the American Embassy, often rioting along the way.