Greece makes deal on bailout loans

Greece says it has reached an agreement with its international debt inspectors that will allow the release of a long-delayed rescue loan instalment.

Prime Minister Antonis Samaras said the agreement does not include a requirement for any new austerity measures.

Finance Minister Yannis Stournaras said the text of the deal was being written up.

The agreement comes after six months of often stalled talks with officials from the International Monetary Fund, European Central Bank and European Commission.

Negotiations had snagged on several issues, including public sector firings and market reforms.

Greece has been dependent on its bailout from other European countries and the IMF since mid-2010. Payment of the rescue loans depends on the country meeting criteria in spending cuts, tax increases and reforms.