The Eurozone Finance Ministers reached an agreement after bailout talks in Brussels. The Ministers agreed to extend aid to Greece for four months, Bloomberg reports. With this agreement the risk of Greece running out of money is removed.
As Reuters reports the Eurozone officials said that this accord requires Greece to submit a list of measures on Monday that the country will undertake in return.
"It certainly looks like we are moving away from disaster. It should help a stress that has been building up in the market to be released," - a foreign exchange analyst at Societe Generale, Sebastien Galy said, BBC reports