Greece has agreed the outline of a €24bn austerity package, including a three-year wage freeze for public sector workers, in return for a multi-billion euro loan from the eurozone and the International Monetary Fund, according to people familiar with the talks.
Final details of the measures, which are intended to slash the budget deficit by 10-11 percentage points of gross domestic product over the next three years, were still being worked out, a senior government official said.
Negotiations with officials from the IMF, the European Commission, and the European Central Bank are due to be completed at the weekend and the measures will be presented for approval by the Greek parliament next week.
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