Greece, EU reach agreement over bailout plan

Written by on February 21, 2015 in Europe - Comments Off on Greece, EU reach agreement over bailout plan

Eurozone finance ministers agreed Friday to extend Greece’s bailout loan program for four months, overcoming a Greece-Germany stand-off.

Greek officials are expected to present a list of comprehensive reforms on Monday for the country’s debt inspectors to assess. Parties realized that is more beneficial to be “logical than ideological,” an EU official said.

European creditors had insisted that any extension to loans should have strings attached to some budget measures and reforms.

Dutch finance minister Jeroen Dijsselbloem, head of the Eurogroup, said the deal will extend Greece’s loans for four months. Greece had requested a six month extension.

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