Eurozone leaders reach unanimous Greece deal, says EU President Donald Tusk

Greek Prime Minister Alexis Tsipras arrives for a meeting of eurozone heads of state at the EU Council building in Brussels on Sunday, July 12, 2015. (AP Photo)

European Union President Donald Tusk says the bailout deal for Greece could pave the way for the country to remain a member of the euro.

[related-post]

In a tweet Monday, Tusk said eurozone leaders agreed unanimously on a new bailout for Greece that includes “serious reforms” and “financial support.”

Details of the agreement between Greece and its creditors have yet to emerge.

The Greek government made a request last week for a three-year, 53.5 billion-euro ($59.5 billion) financial rescue from Europe’s bailout fund. During negotiations that stretched beyond a weekend deadline into Monday morning, Its creditors indicated that Greece will need tens of billions more than that to stay solvent.

German Chancellor Angela Merkel, left, speaks with French President Francois Hollande, center, and Greek Prime Minister Alexis Tsipras during a meeting of eurozone heads of state at the EU Council building in Brussels on Sunday, July 12, 2015. (AP Photo)

Greece’s economy is in freefall and its banks are facing collapse.

EU President says the agreement with creditors struck Monday morning will allow Greece to “get back on track.”

Officials including European Commission chief Jean-Claude Juncker say the deal means that Greece will not have to leave the euro currency, the so-called Grexit.

Story continues below this ad

French President Francois Hollande says the Greek parliament should convene within hours to adopt new reforms, and has praised the fact that the deal should keep Greece in the euro.

For the eurozone to have lost Greece as a member would have been to lose “the heart of our civilization,” Hollande said.