An agreement was reached Friday night in Brussels between Greece and the other countries of the euro area, an agreement which provides for a 4-month extension of the financial assistance.
In exchange Athens has reaffirmed its commitment to meet all its debt maturities. – it is a requirement particularly Germany
In addition, Greece has promised to present on Monday a series of structural reforms, notably on the fight against tax fraud.
The agreement comes after tough negotiations and several failures seen at previous meetings of the Eurogroup.
It was urgent to find a solution because the current program of aid to Greece is expected to be completed by the end of the month. And the absence of agreement, the country might become quickly run out of money.