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Green light for Greece: Eurogroup approves plans for economic reform

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By Sarah Taylor
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Green light for Greece: Eurogroup approves plans for economic reform

The Eurogroup of EU finance ministers has given Greek bailout plans the green light, an official from Athens confirms.

The deal removes the risk of Greece being declared bankrupt and, ultimately, being forced out of the eurozone.

Athens submitted proposals for economic reform to Brussels on Monday, with a view to securing the four-month extension to the bailout.

The original 240 billion euro EU/IMF bailout programme had been due to expire at the end of the month.