BRUSSELS, Feb. 20 (Xinhua) -- Eurozone finance ministers and Greece on Friday agreed on a final agreement over the bailout extension by four months, Eurogroup president Jeroen Dijsselbloem said during a press conference.
Eurozone finance ministers discussed the request by the Greek government for an extension of the financial assistance for six months which had been submitted on Thursday.
Dijsselbloem said a draft statement by eurozone finance ministers ultimately approved extending Greece's bailout by four months.
The extension would bridge the time for discussions on a possible follow-up arrangement between the Eurogroup, the institutions and Greece, according to the Eurogroup statement.
Dijsselbloem added Greece should submit by Monday a letter listing what reform measures it must adopt to the Eurogroup as commitments underpinned.
The institutions will provide a first view whether this is sufficiently comprehensive to be a valid starting point for a successful conclusion of the review.
"This list will be further specified and then agreed with the institutions by the end of April," said the statement.
Dijsselbloem said Friday's agreement was a "first step in this process of rebuilding trust" between Greece and its European creditors.
Discussions were taking place in the context of the upcoming expiry of the current financial assistance to Greece on 28 February.
If international markets refused to finance Greece's government, It is said that the country could exit from the single currency.
Earlier, European Commission President Jean-Claude Juncker saw Greek request as a positive sign, saying which could pave the way for a reasonable compromise.
Friday's meeting is the third time in ten days that ministers have met to resolve the Greek debt problem. At last meeting the Eurogroup agreed that the best way forward is for Greece to seek an extension of the bailout.
Ministers were unable to reach the agreement on the bailout program on Monday after the Greek authorities rejected the draft statement proposed by the Eurogroup.
PARIS, Feb. 20 (Xinhua) -- French President Francois Hollande and German Chancellor Angela Merkel on Friday ruled out a scenario envisaging a Greek exit from the single-currency bloc, but urged Athens to respect its financial commitments.
"France's position is that everything is done for...greater cohesion of the euro area. I do not know today that there is a scenario envisaging Greek exit from the eurozone," said Hollande. Full story
ATHENS, Feb. 18 (Xinhua) -- Greek Finance Minister Yanis Varoufakis will request a six-month extension of the bailout loan agreement on Wednesday, Greek government spokesman Gavriil Sakellaridis said in a statement to a local television channel.
"The government does not want to create impasses but to find a solution ... The failure of the bailout program has been proved," Sakellaridis said, referring to the distinction Athens made between the wider framework of the loan agreements signed with international creditors since 2010 and the precise measures of the bailout program which expire in late February. Full story
