Euro countries have agreed to extend the Greek loan program for four months, according to Reuter.
After many preliminary meetings and discussions behind the scenes, the 19 finance ministers of the eurozone on Friday night finally agreed to extend the Greek loan program.
- It's done. Four months, a source told Reuters.
Details of the agreement were not immediately clear, but Greece on Monday must put forward a list of reforms.
It has been some tough negotiations with steep fronts between the new government in Athens and the other euro countries with Germany in the lead.
While the Greek authorities have promised voters new terms, the euro countries demanded that strict requirements on reforms and austerity measures continued along with a loan extension.
The loan program totaling 240 billion euros has kept the Greek economy afloat since 2010, but expires at the end of the month. Without any extension, the market feared confusion, state bankruptcy and withdrawal from the euro for the Greeks.
DON'T MISS A POST - FOLLOW US ON FACEBOOK!
Comments at Speisa are unmoderated. We do believe in free speech, but posts using foul language, as well as abusive, hateful, libelous and genocidal posts, will be deleted if seen. However, if a comment remains on the site, it in no way constitutes an endorsement by Speisa of the sentiments contained therein.comments powered by Disqus
Scientists discover seaweed which tastes like bacon
Scientists at Oregon State University have found a red seaweed, which tastes like bacon when it is cooked.