“European finance ministers came to the agreement Friday as failure to reach a deal threatened Greece’s solvency. The extension will give Greece time to negotiate a follow-up arrangement with creditors as it attempts to undertake fiscal reforms.  The extension is contingent on reforms, which Greek officials and Europe will agree on by the end of April. Greece will present a list of reforms by Monday, Dijsselbloem said. The deal will be ratified when creditors are satisfied with reforms.  A euro zone fund for Greek bank recapitalization will remain available throughout the extension, Dijsselbloem added.”

http://www.cnbc.com/id/102441980

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