Greece and eurozone creditors reach deal on loan

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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.


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

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