Greece needs to carry out ‘credible’ pension reforms to complete first review

European Commissioner Pierre Moscovici stressed the need for “credible reforms, as outlined in the memorandum” to Greece’s pension system in a statement as he arrived for Thursday’s Eurogroup meeting in Brussels, while noting that cooperation with the Greek government was “good“.

He said the focus with regard to Greece during Thursday’s Eurogroup will be on pension reforms, noting that several major reforms have been voted into law and will now enter into force in order for Greece’s economy to return to growth.

Moscovici also noted that the first review must be completed in order for a discussion to begin on Greece’s debt and that this required a credible reform plan for the country’s pension system.

“We will look at the necessary parameters but it is too early to talk in detail,” he added.