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Eurogroup Urges Greece to Speed Up Structural Reforms & Privatization Program

The Eurogroup urged Greece to speed up structural reforms and its privatizations program, and also called for opposition parties’ consensus on the Greek economic adjustment program, in statements by European Monetary and Economic Affairs commissioner Olli Rehn and Eurogroup president Jean-Claude Juncker.  The delegates stated this after a meeting of the Euro area Finance Ministers in Brussels on Monday.
Rehn said a “very good discussion” took place on the extension of the repayment period for Greece’s 110 billion euros EU-IMF bailout loan to Greece.
Noting that Greece had achieved in 2010, an unprecedented reduction of its fiscal deficit, he said that an assessment report by the Troika experts (European Commission, European Central Bank and International Monetary Fund) on the implementation of the Memorandum in Greece was anticipated, adding that some gaps have been ascertained in the assessment with achievements of the fiscal targets and the privatizations program.
Juncker, in turn, said he was satisfied with Greece’s clear-cut commitments on the implementation of new extraordinary measures to attain the fiscal targets for 2011. “If Greece succeeds in meeting the fiscal targets for 2011, if it speeds up the privatizations program and if there is political consensus, things may not be easy, but they will be feasible,” he said.
(source: ana-mpa)

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