Greece must complete prior actions before Eurogroup

4 November 2015
165 Views

The government must complete the first batch of prior actions in the next few days and before the Eurogroup meeting next Monday to open the way for the second batch of prior actions that will allow the disbursement of the 2-billion-euro loan tranche, European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Tuesday, following a meeting with Greek Finance Minister Euclid Tsakalotos in Athens.

Speaking to the press after the meeting with Tsakalotos, Moscovici also warned that if the 3-4 pending issues from the first batch are not resolved, “an agreement at the Eurogroup will be more difficult”.

He said that Greece must “take one step at a time” and that the debt issue will be discussed in due time, but noted that any solution must be “governed by ambition and pragmatism and be politically acceptable by [Greece’s] partners”. He also said the European Commission, the IMF and the ECB will all table proposals on the issue.

Despite persistent questions, Moscovici didn’t respond on whether the country’s program review will be seen separately from the bank recapitalization, but simply noted the need for a strong financial system, viable banks and protection of bank deposits.
Remaining on the issue of the country’s debt, Tsakalotos said he’s optimistic that talks will start before Christmas and that Greece will not wait until the completion of the program review to present its proposals, as a team at the ministry is already working on them. He said if both sides show good faith, there could be many technical solutions to the problem.

The minister also clarified that “the institutions must understand that Greece is “a special case and that there are things that can be done during a recession and things that cannot,” and went on to note that the government has drawn up a clear roadmap that includes bank recapitalization, the completion of the review and the debate on the debt.

In joint statements before the their meeting, Moscovici spoke of the possibility of building a new success story for Greece noting that the country must stay in the Eurozone and thrive in it.

Earlier, the Commissioner met with Prime Minister Alexis Tsipras at his office at Maximos Mansion.

You may be interested

Kavala: The port city with the numerous faces
GREECE
shares48 views
GREECE
shares48 views

Kavala: The port city with the numerous faces

Panos - Jan 16, 2018

Kavala, the capital and main port of the Kavala prefecture is amphitheatrically built on the slopes of Mt. Symvolo forming…

Greek Jan-Dec govt budget surplus beats target
FINANCE
shares42 views
FINANCE
shares42 views

Greek Jan-Dec govt budget surplus beats target

Panos - Jan 16, 2018

Greece’s central government attained a primary budget surplus of 1.96 billion euros in 2017, above target due to lower spending,…

Global tourist arrivals break 7-year record in 2017, UN Barometer reveals!
FINANCE
shares47 views
FINANCE
shares47 views

Global tourist arrivals break 7-year record in 2017, UN Barometer reveals!

Panos - Jan 16, 2018

Global tourism recorded its highest growth in 2017, with international arrivals rising by 7%, a performance well over the 4%…

Leave a Comment

Your email address will not be published.