Deal to Extend Greek Bailout for 4 Months Is Reached

Deal to Extend Greek Bailout for 4 Months Is Reached

European leaders agreed Friday to extend Greece’s bailout for four months after weeks of tense negotiations.

The deal, reached at an emergency meeting of eurozone finance ministers here, paves the way for Greece to unlock further financial aid from a 240 billion euro, or $273 billion, bailout deal.

“I’m glad to report to you that the work has paid off,” Jeroen Dijsselbloem, the head of the Eurogroup of finance ministers, said at a news conference. “We have established common ground again.”

The deal is likely to give Greece breathing room. But it will hardly put the country past the worst of its economic and financial troubles.

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