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Greece and European creditors have agreed to a bailout deal.

FOX News Radio's Simon Owen in London details the new bailout:

The new deal leaving some people in Greece angry.

(Resident) "They want a war, they're gonna have a war, the Greek people they're gonna win."

But after 17 hours of negotiations with other European countries, the Greek Prime Minister saying it was a choice between accepting more spending cuts or seeing Greece go bankrupt and leave the Euro currency.

It seems the terms of the deal are actually tougher than a previous proposal, which the Prime Minister rejected last month.

This bailout still needs approval from the Greek parliament.

Simon Owen, FOX News Radio.