Greece reaches deal to release more bailout cash

The Greek government has reached an agreement with European creditors on economic measures it must take before it can get its next batch of bailout cash.

Pierre Moscovici, the European Union’s top economy and finance official, said the agreement has been “reached on the remaining measures needed to complete the first set of milestones”.

Greece has to meet certain targets and legislate on reforms before it can get funds from the bailout programme worth up to €86bn it agreed on with eurozone partners this summer.

Mr Moscovici said that Greece could get €2bn in loans and €10bn to recapitalise its banks if its MPs approve the latest economic reform measures on Thursday.

He added: “This is a good day.”