Greece and Europe have reached a deal. 

In a press conference following the announcement Eurogroup president Jeroen Dijsselbloem described this as a "positive" outcome.  

The agreement removes the immediate risk of Greece running out of money next month and possibly being forced out of the single currency area.

According to Reuters, the deal provides a breathing space for the new leftist-led Athens government to try to negotiate longer-term debt relief with its official creditors.

In a press conference Dijsselbloem said that based on the agreement reached Friday, Greece has agreed to present a list of reform measures on Monday. 

The Eurogroup's members will then review these measures as the start of a process that Dijsselbloem says will "hopefully lead to a successful conclusion" of the review of Greece's bailout agreement. 

Dijsselbloem said the review of Greece's measures will ultimately be concluded by the end of April. 

Officials said an outline deal was reached in preparatory talks involving the Greek and German finance ministers, as well as the managing director of the IMF. It was then agreed by the full 19-member Eurogroup, ending weeks of uncertainty.

In a press conference following the announcement, Eurogroup president Jeroen Dijsselbloem said the negotiations were "intense," because they were about "building trust" between Greece and its European creditors.

According to the agreement, "The Greek authorities have expressed their strong commitment to a broader and deeper structural reform process aimed at durably improving growth and employment prospects, ensuring stability and resilience of the financial sector and enhancing social fairness ... The Greek authorities reiterate their unequivocal commitment to honour their financial obligations to all their creditors fully and timely."

The full statement from the Eurogroup can be found here

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