Eurozone agrees new 109bn euros Greek bailout

The deal, struck at an emergency summit of the Eurozone's 17 member countries, also involves support from the International Monetary Fund (IMF).For the first time, private lenders, including banks, are also pledging support which will give Greece easier repayment terms.French President Nicolas Sarkozy said private lenders will contribute a total of 135bn euros over 30 years to Greece."And this in the end of course will mean not only the funding of a programme but it will also mean the lightening of the burden on the Greek people."The Greek Prime Minister, George Papandreou, welcomed the deal: "We now have a programme and a package of decisions which create... a sustainable debt management for Greece.Banks and other private investors will contribute 37bn euros to the package.Leaders of the Eurozone countries have agreed a new bailout package for Greece worth 109bn euros ($155bn, £96.3bn).