NEW YORK (CNNMoney) -- Greek political leaders agreed to a package of austerity reforms Thursday, marking the first step toward securing much-needed bailout funds.
Greek Prime Minister Lucas Papademos said in a statement that there was "general agreement" on measures aimed at cutting public spending.
The reforms are a precondition for Greece to receive a second bailout worth €130 billion from the European Union, International Monetary Fund and European Central Bank, known as the troika.
Greek Finance Minister Evangelos Venizelos was due to present the agreement to a meeting of euro area finance ministers taking place Thursday in Brussels.
Greek Finance Minister Evangelos Venizelos was due to present the agreement to a meeting of euro area finance ministers taking place Thursday in Brussels.
Greek Prime Minister Lucas Papademos said in a statement that there was "general agreement" on measures aimed at cutting public spending.
The reforms are a precondition for Greece to receive a second bailout worth €130 billion from the European Union, International Monetary Fund and European Central Bank, known as the troika.
Greek Finance Minister Evangelos Venizelos was due to present the agreement to a meeting of euro area finance ministers taking place Thursday in Brussels.
Greek Finance Minister Evangelos Venizelos was due to present the agreement to a meeting of euro area finance ministers taking place Thursday in Brussels.
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