Tonight in Brussels, Greece received a four-month delay on debt repayment.
Athens and Brussels agreed the Greek government to submit a list of reforms that will result in a better position to continue the subsidy program till the end of business on Monday.
According to Brussels officials, the agreement was reached “in the nick of time”.
According to Greek Finance Minister Yannis Varoufakis, the agreement means opening “ new page for Greece and a new page for Europe.”
The agreement was reached at today’s extraordinary meeting of the Eurogroup, composed of the 19 countries in the Eurozone, and after a ten-day negotiating with the Greek government.
Greece’s agreement with Eurogroup has been achieved in several special meetings between the German Finance Minister Wolfgang Schäuble, his Greek counterpart Yannis Varoufakis, President of the Eurogroup Jerom Dijselblom, the first lady of the International Monetary Fund, Christine Legard and European Commissioner for Economic and Financial Affairs, Pierre Moscovici.
The agreement temporarily removes the danger of Greece running out of money at the beginning of next month when the current program with creditors expires.
In a statement, Eurogroup confirmed the agreement with the Greek authorities, saying that the new government led by Alexis Tsipras “strongly committed to further deep structural reforms to improve economic growth and ensure financial stability by implementing reforms to combat tax evasion and efficiency of the public sector”.
