Greece Gets Debt Relief From Euro Zone

Greek Prime Minister Alexis Tsipras, is pictured wearing a tie for the first time in years in Athens, Greece on June 22, 2018. He had previously promised not to ear a tie until the debt crisis was resolved. Reuters/Costas Baltas

LUXEMBOURG—Euro zone finance ministers on Friday extended maturities and deferred interest of a major part of their loans to Greece along with a big cash injection to ensure Athens can stand on its own feet after it exits its bailout in August.

Greece has been living primarily on money borrowed from euro zone governments in three bailouts since 2010, when it lost market access because of a ballooning budget deficit, huge public debt and an inefficient economy and welfare system.