European Union leaders have emerged from an emergency brainstorming session in Brussels this morning with a new compound word that can be used when discussing the Greek debt crisis.

European Council President, Donald Tusk, emerged from the marathon 72-hour talks to announce that an ‘agreekment’ had been reached between all parties. The news was met with a chorus of disenchanted groans from the assembled media.

With patience having already run out for previous political puns, such as ‘Grexit’ and ‘Greferendum’, EU leaders have been on the hunt for a new compound word that can boil the complexity of the Greek situation down to a simple catchy quip and hopefully galvanise European opinion on the issue.

Markets have responded positively to the new compound word.