The European Union has agreed to provide tens of billions of dollars in new loans to Greece. This financial rescue plan is the third agreement between Greece and other European countries. It came after 17 hours of negotiations over the weekend.
Greece will receive almost $100 billion in loans in exchange for making economic reforms. These reforms include changes to how the country collects taxes and cutting financial assistance for retired persons.
Greek government leaders must now persuade the country’s parliament to approve the agreement by Wednesday.
