LUXEMBOURG (AP) -- Greece and its international lenders need to reach agreement quickly on a program of reforms so the next tranche of aid can be released, according to the head of the group finance ministers from the 17 countries that use the euro.
Inspectors for the so-called "troika" -- the International Monetary Fund, the European Central Bank, and the European Commission -- are currently in Greece, looking for ways to balance the country's budget.
Jean-Claude Juncker, the eurogroup chief, speaking in Luxembourg after a meeting of the finance ministers of the 17 euro countries, praised Greek officials and their willingness to do what's necessary for the country.
Also, the finance ministers approved (euro) 800 million ($1036.64 million) in bailout money for Portugal. The remainder of the next (euro) 4.3 billion tranche of aid must be approved by the IMF and the full 27 EU finance ministers.