"We have cleared the way towards new aid," Merkel said, stressing that writing off the country’s debt is not on the agenda.

BRUSSELS, July 13. /TASS/. The agreement with Greece has been reached and the conditions for launching talks on the new aid package have been discussed, German Chancellor Angela Merkel told reporters in Brussels on Monday.

Merkel stressed that there are now all the conditions for talks on aid for Greece as part of the European Stability Mechanism (ESM).

The new three-year bailout may reach between €82 and €86 billion.

The Eurogroup, an informal body of the ministers of the euro area member states, is ready to agree on additional measures if necessary, she added.

The compromise agreement was reached at the meeting of German Chancellor Angela Merkel, French President Francois Hollande, Greek Prime Minister Alexis Tsipras and European Council President Donald Tusk.

French President Francois Hollande earlier said that the agreement reached at the summit will allow Greece to stay in the eurozone.

According to preliminary reports, the final decision on forming the third international package of macro-financial aid to Greece should be adopted by on July 15 by the Eurogroup, an informal body of the ministers of the euro area member states.

President of the European Commission Jean-Claude Juncker said following summit said that Greece will not leave the euro zone.