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February 23, 2015

Greece, Eurozone Extend Financial Package for 4 Months in Austerity Standoff 
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Greece has reached a deal with European creditors to extend a financial
rescue package for up to four months. Greece's new Syriza government
sought the agreement as part of its bid to undo the austerity demands of
its international bailout. Greek Finance Minister Yanis Varoufakis
called the move the "first step on a long journey."

Greek Finance Minister Yanis Varoufakis: "Today, we have found partners
amongst those who, up until very recently, looked at us with suspicion.
There are some partners still that are looking at us with suspicion.
This is our challenge to win over their trust, and we intend to do this.
This is only a very first step on a long journey, but long journeys have
to commence with a step."

The extension will be formally ratified after Greece submits a list of
economic reforms today.

 

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