(VOVworld) – Greece and Eurozone nations have reached an agreement to extend Greece's financial rescue by four months.

President of Eurogroup Jeroen Dijsselbloem at a press conference on February 20 (Photo: EPA)

The decision was made following the third urgent meeting between 19 Eurozone finance ministers about Greece’s debts. Under the agreement, the financial aid will be extended on Monday, in return for the extension, Greece has agreed to present an initial list of reform measures. Eurozone officials will then review the reforms and see if they go far enough to appease creditors. According to a source from Greece’s government, Athens is ready to carry out acceptable reforms and will focus on dealing with tax evasion, humanitarian crisis and public administrative reforms.