On 13 July 2015, the leaders from the euro area member states agreed in principle that they are ready to start negotiations on an ESM financial assistance programme for Greece.
There are a number of strict conditions to be met before negotiations can formally begin.
The agreement will have to be approved by the Greek parliament and by several national parliaments.
"I welcome the progress and the constructive position of Greece that helps to bring back trust among euro zone partners", said Euro Summit President Donald Tusk.
Following national procedures, the Eurogroup will work with the institutions to swiftly take forward the negotiations. Euro area finance ministers will also urgently discuss how to help Greece meet its financial needs in the short term, the so-called bridge-financing.