Greece Agrees To New Deal With EU Partners, IMF

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The agreement will see Greece cut its debt by $51 billion, clearing the way for new loans of around $60 billion. Analysts say this makes it unlikely that Greece will default on its debt or pull out of Europe's currency, the Euro.

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Transcript

STEVE INSKEEP, HOST:

NPR's business news begins with a boost for the eurozone.

(SOUNDBITE OF MUSIC)

INSKEEP: They say they've really worked it out this time. Greece has agreed to a new loan and debt deal with its European Union partners and the International Monetary Fund. The agreement will see Greece cut its debt by $51 billion, clearing the way for new loans of around $60 billion. Analysts say this now makes it unlikely that Greece will default on its debt or pull out of Europe's currency, the euro. Transcript provided by NPR, Copyright NPR.