Greece has secured a long-sought extension to catch up with its fiscal targets. "We have obtained the extension," Finance Minister Yannis Stournaras said on Wednesday. Stournaras said the government would tell European counterparts that it is ready to put its latest austerity package to parliament next week after winning additional concessions from foreign lenders. One of the conditions of Greece's current $185bn bailout programme is that it reforms the economy so the country can return to the bond markets. Greece has asked for a two-year extension on this deadline so that it has time to introduce austerity measures.