MADRID (MarketWatch) -- Conditions are in place for Greece to get its second bailout, said Eurogroup President Jean-Claude Juncker in a statement released Friday. "I welcome the significant progress achieved in the preparation of the second Greek adjustment program," said Juncker, after a teleconference between euro-zone finance ministers on Friday. He said he was encouraged by the high private-sector participation in Greece's debt-swap exchange offer, which will "make a significant contribution to improve Greece's debt sustainability." He said the Eurogroup was informed Greece will activate its collective action clauses for bonds governed by Greek law, which forces those holders into accepting the bond-swap offer.