The move came after a what seemed a rare good news day in terms of talks between Greece and its lenders on reforms, without which the country cannot receive a vital last tranche of bailout aid worth 7.2 billion euros ($8.03 billion).
Jeroen Dijsselbloem, the head of the Eurogroup, told CNBC that while progress had been made, there was still work to do.
"More detailed plans have been put on the table, more figures and data, so gradually we are getting somewhere. But on some of the major issues, there are still work to do. (For example on) some of the major reforms which are obviously not very popular measures but are necessary to put Greece on a sustainable footing, and back on a sustainable track," he told CNBC in Brussels Monday.
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Market analysts have been closely following talks between Greece and its lenders since February when Athens secured a four-month extension to its bailout program so that the leftwing government could implement reforms. While there have been signs of progress, investors and experts stumbling blocks lie ahead.
"The problems are far from over for Greece as it is one hurdle at one time," Naeem Aslam, chief market analyst at Ava Trade, said in a note Tuesday.
"After every challenge successfully accomplished unfolds another hurdle which sets the bar even higher than the previous one," he said, alluding to the 1.5 billion euro loan repayments due to the Fund in June alone.