Road to recovery now open: Greek PM

ATHENS - The road to recovery is now open, Greek Prime Minister Antonis Samaras said on Tuesday evening on the results of the agreement clinched between the eurozone and the International Monetary Fund on the Greek bailout and debt.

"Our strategy was proven right ... A dark period for Greece comes to an end," the prime minister said in a televised address to the nation, hailing Eurogroup's decision to disburse the next tranche of international bailout loans to Athens in coming weeks and reduce its sovereign debt to make it sustainable.

Samaras said that Greece restored its credibility and turned a harsh austerity program into a reform plan which leads to growth, ensuring its future in the eurozone.

Without further aid from international lenders, the debt-wrecked country could default by the end of this year and most likely exit the euro.

The success belongs to all Greek people, supporters and critics of the government strategy, Samaras stressed, adding that all Greeks will benefit from the deal which paves the way for the immediate investment in the real economy of at least 7 billion euros (9 billion U.S. dollars) out of a total 43.7 billion euros to be released.

A major part of the aid will be used for the recapitalization of Greece's banking sector which is expected to refinance the real economy in turn in coming months.

Samaras is scheduled to meet his two centre-left coalition government partners on Wednesday to decide on the next steps to address the crisis. (1 euro= 1.30 U.S. dollars)