Eurozone leaders said early Monday that they would give Greece another bailout as long as the government of Prime Minister Alexis Tsipras manages to implement a round of punishing austerity measures in the coming days.
The tentative rescue deal--hammered out after 22 hours of at-times acrimonious negotiations between the currency union's leaders and finance ministers--is likely to require a near-total surrender of the left-wing government to creditors' demands.
European markets were up in early trade, with the Stoxx Europe 600 gaining 1.2%. The euro rose to $1.1197 against the dollar, before paring gains.
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