Eurogroup: Greece gets extra week to make reforms

10 November 2015
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Eurogroup President Jeroen Dijsselbloem expressed his satisfaction with the commitment of Greek authorities to implement the necessary reforms within the week, during a press conference after the Eurogroup meeting in Brussels on Monday.

According to Dijsselbloem, the Eurogroup Working Group (EWG) will have to meet by the start of next week at the latest to review the implementation of the first batch of prior actions, as well as reforms related to the management of Greek banks. As a next step, the ESM’s governing board will have to convene to decide on the disbursement of the 10 billion euros – or part of it – earmarked for the recapitalization of Greek lenders.

On his side, European Commissioner for Economic and Financial Affairs Pierre Moscovici noted that cooperation with Greece has been very satisfactory and the large majority of the prior actions demanded for the disbursement of the loan tranche have been completed. Commenting on remaining commitments, the French Commissioner said “all sides must make efforts”, adding that the most important issue is the non-performing loans.

“We have to find solutions that protect the economically weaker citizens but which prevent abuses by those who are able to repay their loans and do not do so,” he said.
– See more at: http://www.sigmalive.com/en/news/greece/137368/eurogroup-greece-gets-extra-week-to-make-reforms#sthash.ZLGnHtzQ.dpuf

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