Opening Bell: Eurogroup hails Greek "breakthrough," Ireland challenges EU budget ruling, and is Hollywood set for Ringsend?

Get up to speed with today's breaking Irish and international business news

Greece has secured a new batch of rescue loans in what eurozone finance ministers have called a "breakthrough deal."

The country will receive €10.2bn in additional loans - ministers also agreed to provide debt relief in 2018.

The deal was announced after an 11-hour session of negotiations between the Eurogroup's 19 finance ministers.


New plans are about to be unveiled to develop Hollywood-style film studios in south Dublin.

The Irish Times reports the founder of Windmill Lane Studios wants to develop a studio on the Irish Glass Bottle site in Ringsend.

The studios would sit alongside the 3,000 new homes already planned for the lot - taking up close to half of the 80-acre site.

U2 frontman Bono has been lobbying the Government to get the green light for the project - the Lobbying Register records that he called Alan Kelly regarding the proposal.

Advocates say 3,000 jobs would be directly created by the studios, with the same number again hired indirectly.


Finance Minister Michael Noonan has refuted European Commission ruling that Ireland will miss its budget targets this year.

He says that the claim that the country will miss an interim budget target was a "mistake," which Ireland will formally appeal.

"There are some differences of opinion and there are some issues on which we believe the Commission is mistaken, and we will pursue those with a view to ironing out those difficulties," Mr Noonan said yesterday.


A vote to leave the European Union could force the UK into two more years of austerity, according to a British think-tank.

The Institute for Fiscal Studies reckons an 'out' vote in next month's referendum could see public finances take a £20bn to £40bn pound hit in three years.

Meanwhile, Bank of England’s Governor Mark Carney has defended the bank's intervention in the debate when it published research which showed that leaving the EU could hurt the British economy.

The Bank of England is due to publish the minutes from its last Monetary Policy Committee on June 16th, one week before the vote.

Mr Carney said that they may again contain references to the potential economic impact of an exit.