Eurozone finance ministers agreed to consider extending financial assistance to Greece, which is formally known as the Master Financial Assistance Facility Agreement, for up to 4 months. This follows a request from the Greek authorities submitted on 19 February.
The Greek government will present a first list of reform measures in line with existing agreements on 23 February.
This will be reviewed by the institutions to determine whether it is sufficiently comprehensive to be a valid starting point for successfully concluding the review of Greece's current programme.
"Successful conclusion of the review will allow for the disbursement of the outstanding tranche of the current EFSF programme."
Jeroen Dijsselbloem, Eurogroup President
"Successful conclusion of the review will allow for the disbursement of the outstanding tranche of the current EFSF programme", said Jeroen Dijsselbloem, Eurogroup President at the press conference after the meeting.
A positive assessment of the reform plans by the institutions will allow euro area countries to reach a final decision on the extension by the end of February.
The discussions took place in the context of the upcoming expiry of the current financial assistance to Greece on 28 February.