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Europe Reaches Agreement on New Rescue Package for Greece

Greece's Finance Minister Euclid Tsakalotos (R) and Spanish Finance Minister Luis de Guindos Jurado talk during an Eurogroup meeting at the EU headquarters in Brussels, on Aug. 14.

Greece's Finance Minister Euclid Tsakalotos (R) and Spanish Finance Minister Luis de Guindos Jurado talk during an Eurogroup meeting at the EU headquarters in Brussels, on Aug. 14.

Photographer: Emmanuel Dunand/AFP/Getty Images
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European governments agreed on a third aid deal for Greece, signaling a determination to keep the country in the euro and setting aside doubts about its ability to repay its debts.

Finance ministers of the 19-nation euro zone endorsed an 86 billion-euro ($96 billion) loan program, following two packages worth 240 billion euros since 2010. The fresh money will be parceled out over three years as Greece enacts economic reforms.