2nd LD Writethru: EU backs 4 months aid extension for Greece

European Union officials on Tuesday approved the extension aid program for Greece, after considering the list of Greece reform measures to be sufficiently comprehensive.

Commenting on the list of Greece reform measures arriving yesterday, European Commission Vice-President for the Euro and Social Dialogue Valdis Dombrovskis said those measures are deemed sufficiently comprehensive to be a valid starting point for the successful conclusion of the review.

"Following Eurogroup teleconference decision national procedures for extension of the Greek program can begin," Dombrovskis said.

In a statement released by Eurogroup,eurozone ministers discussed the first list of reform measures presented by the Greek authorities on Tuesday, saying they agreed to proceed with the national procedures with a view to reaching the final decision on the extension by up to four months of the current Master Financial Assistance Facility Agreement.

Eurogroup and Greece on last Friday agreed on a final agreement over the bailout extension by four months, such an agreement would bridge the time for discussions on a possible follow-up arrangement between the Eurogroup, the institutions and Greece.

According to the EU, the contents of Greece reform measures are the commitment to combat tax evasion and corruption, as well as to pursue reforms to modernize the public administration. Endit