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Olli Rehn: "The Ball in Now in the Greek Court"

Greece’s latest package of austerity measures goes “a long way” toward meeting its 2011 deficit target, European Union Economic and Monetary Affairs Commissioner Olli Rehn said.
“The ball in now in the Greek court,” EU economic and monetary affairs commissioner Olli Rehn said in Brussels.
“Last weekend, the Greek government took very important decisions that go a long way toward meeting the fiscal target for this year,” Rehn told reporters today in Brussels. “It is now essential that they convince their partners so that we can expect a decision to be taken by the euro area and the IMF in time before the next hurdles of financing will emerge.”
“In the eurogroup tomorrow, they will certainly have a discussion as regards the Greek measures and in case that is convincing then the review mission in full could return to Athens,” Rehn said. “And we should be able to conclude work by the end of September, again on the condition that Greece will meet all the conditions that we have set to conclude the review” and then “proceed to the disbursement of the sixth tranche” of international aid, he said.
(source: Bloomberg, AP)

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