Europe's battered financial sector is showing further signs of mending and banks are increasingly competing for custom by lowering credit standards, a key European Central Bank survey showed on Tuesday.

The ECB said its quarterly bank lending survey showed that banks are easing credit standards for loans to enterprises, an encouraging sign, since the chronic weakness of credit activity in the euro area has previously been blamed for the absence of any noticeable recovery in the 19 countries that share the single currency. 

U.S. Treasury Secretary Jacob Lew hailed the deal between Greece and its official creditors Monday as a crucial step toward rebuilding trust and reviving the Greek economy.

"The agreement provides a basis for restoring trust among the parties and creates the conditions for a path forward for Greece within the eurozone, which is in the best interests of Greece, Europe and the global economy," Lew said in a statement.

U.S. Democratic presidential frontrunner Hillary Clinton promised Monday to raise incomes of hardworking Americans and rein in excesses on Wall Street in the first major economic policy address of her 2016 campaign.

The 67-year-old former first lady, senator and secretary of state spent nearly an hour outlining a three-pronged strategy to boost long-term growth, as unemployment continues to languish above five percent.

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Dutch beer giant Heineken announced Monday it has opened a multi-million-dollar brewery in Myanmar, seeking to cash in on one of Asia's high-growth markets.

"Heineken has opened a 60 million dollar (53 million euro) brewery in Myanmar, which has a total capacity of 330,000 hectoliters per year and which will directly employ more than 200 local people," it said in a statement issued from Amsterdam.

U.N. Secretary-General Ban Ki-moon on Monday called for "flexibility and compromise" at a development financing summit that opened in Ethiopia's capital and is seen as crucial for efforts to end poverty and tackle climate change.

"I urge world leaders and ministers gathered here this week... to exercise flexibility and compromise. Let's put aside what divides us and put aside our self-interest in favor of working together for the common well-being of humanity," Ban told the opening of the summit.

Eurozone leaders struck a deal Monday on a bailout to prevent debt-stricken Greece from crashing out of the euro after Athens bowed to draconian demands for reform.

After grueling 17-hour talks during which the future of European integration hung in the balance, leftist Greek Prime Minister Alexis Tsipras accepted terms set by his distrustful partners.

Eurozone leaders set Greece brutal take-it-or-leave-it conditions for a desperately needed bailout deal at a summit on Sunday as an exit from the single currency loomed ever larger.

Hawkish Germany pushed for a Greek "time out" from the euro if leftist Prime Minister Alexis Tsipras fails to agree terms for a three-year rescue plan worth up to 86 billion euros ($96 billion).

Russia is considering direct deliveries of fuel to Greece to help prop up its economy, Energy Minister Alexander Novak said Sunday, quoted by Russian news agencies.

"Russia intends to support the revival of Greece's economy by broadening cooperation in the energy sector," Novak told journalists, quoted by RIA Novosti news agency.

The EU canceled a full 28-nation summit on Sunday to decide Greece's fate in the single European currency, although a meeting of leaders from the 19 countries in the eurozone will go ahead as planned.

The announcement by European Council President Donald Tusk came as eurozone finance ministers met for a second day to continue "difficult" Greek bailout talks, with the aim of reaching a deal that eurozone leaders can sign off on.