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Eurozone extends Greece’s bailout by four months

Eurozone finance ministers on Tuesday accepted reform proposals offered by Greece to extend its bailout program by four more months.

Greece’s proposed reforms include efforts to combat tax evasion and tackle corruption.

“We call on the Greek authorities to further develop and broaden the list of reform measures, based on the current arrangement, in close coordination with the institutions in order to allow for a speedy and successful conclusion of the review,” read a statement from the Eurogroup of finance ministers representing the 19 countries that use the euro.

Greece’s current debt is more than 320 billion euros or about $360 billion. The 240 billion euro ($273 billion) bailout will now run until the end of June instead of expiring at the end of February.