Greece and eurozone creditors reach deal on loan

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Greece and eurozone creditors reach deal on loan
BRUSSELS, BELGIUM - FEBRUARY 20: Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici (L) and German Finance Minister Wolfgang Schaeuble (R) are seen during an emergency meeting of Eurozone finance ministers to discuss the Greece bailout program at the European Council in Brussels on February 20, 2015. (Photo by Dursun Aydemir/Anadolu Agency/Getty Images)
BRUSSELS, BELGIUM - FEBRUARY 20: Greek Finance Minister Yanis Varoufakis is seen during an emergency meeting of Eurozone finance ministers to discuss the Greece bailout program at the European Council in Brussels on February 20, 2015. (Photo by Dursun Aydemir/Anadolu Agency/Getty Images)
BRUSSELS, BELGIUM - FEBRUARY 20: Greek Finance Minister Yanis Varoufakis (R) and Spanish Finance Minister Luis De Guindos Jurado (L) are seen during an emergency meeting of Eurozone finance ministers to discuss the Greece bailout program at the European Council in Brussels on February 20, 2015. (Photo by Dursun Aydemir/Anadolu Agency/Getty Images)
BRUSSELS, BELGIUM - FEBRUARY 20: President of the European Central Bank, Mario Draghi (L 2), Spanish Finance Minister Luis De Guindos Jurado (R 2), Italian Finance Minister Pier Carlo Padoan (L) and French Finance Minister Michel Sapin (R) are seen during an emergency meeting of Eurozone finance ministers to discuss the Greece bailout program at the European Council in Brussels on February 20, 2015. (Photo by Dursun Aydemir/Anadolu Agency/Getty Images)
BRUSSELS, BELGIUM - FEBRUARY 20: Dutch Finance Minister and president of Eurozone Jeroen Dijsselbloem (R) and President of the European Central Bank, Mario Draghi are seen during an emergency meeting of Eurozone finance ministers to discuss the Greece bailout program at the European Council in Brussels on February 20, 2015. (Photo by Dursun Aydemir/Anadolu Agency/Getty Images)
BRUSSELS, BELGIUM - FEBRUARY 20: Greek Finance Minister Yanis Varoufakis (R), Spanish Finance Minister Luis De Guindos Jurado (L) and French Finance Minister Michel Sapin (C) are seen during an emergency meeting of Eurozone finance ministers to discuss the Greece bailout program at the European Council in Brussels on February 20, 2015. (Photo by Dursun Aydemir/Anadolu Agency/Getty Images)
BRUSSELS, BELGIUM - FEBRUARY 20: Greek Finance Minister Yanis Varoufakis (R) and French Finance Minister Michel Sapin are seen during an emergency meeting of Eurozone finance ministers to discuss the Greece bailout program at the European Council in Brussels on February 20, 2015. (Photo by Dursun Aydemir/Anadolu Agency/Getty Images)
Greek Finance Minister Yanis Varoufakis attends an emergency Eurogroup finance ministers meeting at the European Council in Brussels on February 20, 2015. Eurogroup head Jeroen Dijsselbloem was working overtime on February 20 to save a make-or-break meeting on Greece's demand to ease its bailout programme as Germany insisted it stick with its austerity commitments. After days of sharp exchanges, the 19 eurozone finance ministers gathered for the third time in little over a week to consider Athens' take-it or leave-it proposal to extend an EU loan programme which expires this month. AFP PHOTO / EMMANUEL DUNAND (Photo credit should read EMMANUEL DUNAND/AFP/Getty Images)
Greek Finance Minister Yanis Varoufakis attends an emergency Eurogroup finance ministers meeting at the European Council in Brussels on February 20, 2015. Eurogroup head Jeroen Dijsselbloem was working overtime on February 20 to save a make-or-break meeting on Greece's demand to ease its bailout programme as Germany insisted it stick with its austerity commitments. After days of sharp exchanges, the 19 eurozone finance ministers gathered for the third time in little over a week to consider Athens' take-it or leave-it proposal to extend an EU loan programme which expires this month. AFP PHOTO / EMMANUEL DUNAND (Photo credit should read EMMANUEL DUNAND/AFP/Getty Images)
BRUSSELS, BELGIUM - FEBRUARY 20: Dutch Finance Minister and president of Eurozone Jeroen Dijsselbloem speaks to media ahead of an emergency meeting of Eurozone finance ministers to discuss the Greece bailout program at the European Council in Brussels on February 20, 2015. (Photo by Dursun Aydemir/Anadolu Agency/Getty Images)
Greek national flags fly above Greek-themed hats on a street vendor's stall at Syntagma square in Athens, Greece, on Friday, Feb. 20, 2015. Germany and its allies turned up the pressure on Greece to accept their conditions to stay in the euro as the region's top finance officials descend on Brussels to hammer out a deal. Photographer: Kostas Tsironis/Bloomberg via Getty Images
The Greek, left, and EU flag flap in the wind outside the Greek embassy in Brussels on Friday, Feb. 20, 2015. Eurozone finance ministers meet for a crucial day of talks to see whether a Greek debt relief proposal is acceptable to Germany and other nations using the common currency. (AP Photo/Virginia Mayo)
The Greek, left, and EU flag flap in the wind outside the Greek embassy in Brussels on Friday, Feb. 20, 2015. Eurozone finance ministers meet for a crucial day of talks to see whether a Greek debt relief proposal is acceptable to Germany and other nations using the common currency. (AP Photo/Virginia Mayo)
The Greek, left, and EU flag flap in the wind outside the Greek embassy in Brussels on Friday, Feb. 20, 2015. Eurozone finance ministers meet for a crucial day of talks to see whether a Greek debt relief proposal is acceptable to Germany and other nations using the common currency. (AP Photo/Virginia Mayo)
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BRUSSELS (AP) - Greece and its European creditors reached Friday a deal over the country's request to extend its bailout that would keep the country from falling out of the euro bloc.

An official close to discussions, who spoke only on condition of anonymity because he wasn't authorized to comment publicly, says a deal was reached between the two sides at a meeting of finance ministers in Brussels.

The official said that, as part of the agreement, Greece could "present a first list of reform measures by Monday" for the country's debt inspectors to assess.

European creditors have insisted that any extension to loans should be accompanied by a commitment to some budget measures and reforms.

If the officials from the European Central Bank, International Monetary Fund and European Commission, say the list of measures presented Monday by Greece is acceptable, then eurozone finance meeting could discuss the issue by conference call on Tuesday.

The breakthrough in the standoff between Greece and its creditors helped global markets, with the euro and stock markets in the U.S. rising.

Friday's meeting was delayed by 4 hours as the finance ministers worked in clusters, where details of the statement were discussed.

The developments come a day after Athens requested a six-month loan extension, which would allow Greece to pay its bills and avoid an eventual bankruptcy.

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Raf Casert in Brussels and Geir Moulson in Berlin contributed to this report.

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