'Europe has won, Greece has a new program'

French parliament will vote on the new Greek bailout agreement on Wednesday, says French President Francois Hollande

'Europe has won, Greece has a new program'

World Bulletin / News Desk

French President Francois Hollande on Monday praised a "very courageous choice" made by Greek Prime Minister Alexis Tsipras in accepting EU conditions for negotiations for a new bailout for his country.

Hollande told a press conference: "Greece was seeking a program, not charity," Hollande said. "Greece based its request on the principles of solidarity."

"An agreement was made. France sought it and wanted it. Greece remains in the eurozone. Europe has won."

The French leader also praised efforts by France and Germany to find a solution. "It was very necessary to achieve a compromise, " Hollande commented. 

Hollande said the French parliament will vote on the new Greece bailout agreement on Wednesday.

Before the accord was announced, French Prime Minister Manuel Valls expressed his "pride at being at Francois Hollande's side," saying that he (Hollande) had saved Greece from leaving the eurozone.

Emmanuel Macron, the Minister of Economy, Industry and Digital Affairs, also tweeted: " Historic agreement for the eurozone. With Francois Hollande, France has played its role to the end, for a responsible and united Europe."

Greece will receive an €85 billion ($95 billion) bailout over three years, with strict conditions imposed by the eurogroup.

The Greek parliament must legislate by Wednesday on the economic reforms agreed to in the accord, including value-added tax reform, tax reforms and pension reforms.

Greek government assets will be privatized, creating a €50 billion ($54.1 billion) fund, to be based in Athens and which will recapitalize Greek banks and invest in the country's economy.

Güncelleme Tarihi: 13 Temmuz 2015, 12:55