Eurogroup approves Greek list of reforms

FXStreet (Córdoba) - After a teleconference that lasted about an hour, Eurogroup approved the list of reforms submitted by Greek authorities today.

However, Eurozone finance ministers called on Greek authorities to further develop and broaden the list of reform measures in order to allow a successful conclusion of the review.

In a statement, the Eurogroup said institutions considered the list of measures to be sufficiently comprehensive to be a valid starting point.

The Eurogroup agreed to proceed with the national procedures to reach a final decision on the extension by up to four months of the current bailout program.

EUR/GBP recovers from 7-year lows

The EUR/GBP pair recovered from the seven-year low of 0.7315 levels, as the shared currency stabilized on news that Greek bailout extension has been approved by Eurogroup, while the British Pound weakened tracking the fall in the UK Gilt yields.
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