Greek Finance Minister Euclid Tsakalotos (L) speaks during a press conference as Economy Minister George Stathakis looks on at the ministry in Athens, Greece November 17, 2015. REUTERS/Alkis Konstantinidis
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Greece struck a deal with European creditors Tuesday on economic measures it needs to make to get its next batch of bailout money, including a 10 billion euro ($10.7 billion) cash injection for its crippled banks.Pierre Moscovici, the European Union's top economy official, said Greece and the creditors had reached a deal on all outstanding issues, a development that also brings promised discussions on reducing Greece's debt burden one step nearer.With Tuesday's deal, Greece should get 2 billion euros in loans as well as 10 billion euros for its banks, which are reeling from limits on money transfers and another likely recession.Healing the banks is perhaps the most pressing concern for Greece. Once the promised reforms have been passed and the bank recapitalization has taken place, discussions between Greece and its creditors can move on to how to lighten Greece's public debt load, which could rise to around 190 percent of gross domestic product.
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