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Greece deal good for Europe, global economy: U.S. treasury secretary

Xinhua, July 14, 2015 Adjust font size:

U.S. Treasury Secretary Jacob Lew on Monday hailed the bailout agreement reached between Greece and its creditors, which he said is "in the best interests of Greece, Europe and the global economy."

"Today's agreement between Greece and its creditors is an important step forward," Lew noted in a statement.

However, the pledges by Greece and its creditors will require difficult steps, and "substantial work remains to be done," Lew added.

Also on Monday, White House spokesperson Josh Earnest said at a daily press conference that the United States welcomed the new bailout deal, adding that there are still some important decisions and important steps that need to be taken.

After tough, marathon negotiations, leaders of eurozone countries finally reached a bailout agreement with Greece to help the debt-ridden country avoid bankruptcy, provided the Greek government implements harsh austerity measures in the coming days. Endite