For once in a tie, Greek PM Tsipras hails new debt deal

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The profit emerged from interest rates through purchases of Greek government bonds under the Securities Markets Program (SMP) of the European Central Bank (ECB).

Greece has been living primarily on money borrowed from euro zone governments in three bailouts since 2010, when it lost market access because of a ballooning budget deficit, huge public debt and an inefficient economy and welfare system. He said soon after being elected that he would only wear one when Greece had settled its debt problems.

"After eight long years, Greece will finally be graduating from its financial assistance", the chairman of euro zone finance ministers Mario Centeno told a news conference in the small hours of Friday after hours of negotiations of the deal.

In addition, the Euro group gave the green light to release to Athens a 15 billion euros (17.4 billion US dollars) final loan installment of the 86 billion euro package sealed three years ago, which will be used to cover some of its debts to the International Monetary Fund and the European Central Bank.

"We believe that the debt is now viable, we can have access to the markets now and in a context of surveillance and by continuing our reforms we can pursue this", Greek Finance Minister Euclid Tsakalotos said after the meeting.

It also got another injection of 15 billion euros (£13 billion).

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Athens faces bond repayments of around 7 percent of its output next year, the first after its third bailout ends in August.

Finance Ministers from the 19 countries that use the single currency are seeking to agree on debt relief and a sizeable cash cushion for Greece that will reassure financial markets on the ability of Athens to stand on its own.

Once the bailout is over, Greece will have to finance itself by borrowing on worldwide bond markets.

Greece "has fulfilled its obligations, and now the Eurogroup must keep its promises", MP Kindler said, calling for "substantial debt relief" for the troubled Mediterranean nation. The Washington-based fund had repeatedly said it would do so once the country's euro-area creditors took sufficient steps to ensure its debt remained sustainable in the long term.

The eurozone ministers' agreement comes almost a decade after Athens finances spun out of control, sparking three bailouts and threatening the country's euro membership.