Greek Bailout Extension Receives Approval from Eurogroup Finance Ministers (FXE)

Eurozone finance ministers have approved a four-month extension to Greece's bailout

Reform measures were discussed by Eurogroup finance measures during a conference call on Tuesday. While the deal needs to be voted on by several parliaments in the euro-zone, though lawmakers in Germany, Finland, and the Netherlands are expected to pass the measure.

The extension mens Greece's €240 billion bailot won't expire until June, versus the end of February.

Under terms of the revised agreement, Greece must maintain current state asset sales, revamp tax collection and administration, and consolidate pension funds to cut costs.

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