Eurogroup President Jeroen Dijsselbloem said on Friday significant steps were made to restore trust between Greece and the Eurozone, following an agreement on the country’s loan extension during a Eurogroup meeting in Brussels.
The Dutch official said the Greek request for a four-month extension has been approved in principle and that during this period and after it, the agreement will be subject to flexibility on issues such as primary surpluses that will depend on growth rate.
Dijsselbloem also noted that by Monday, Greece will propose a first list of the structural reforms it wishes to enforce and that this process will be completed by April. The member-states’ processes for the approval of the extension must also be completed by the end of the month, he added.
Taking his turn, European Union Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici said that “logic prevailed. It’s a balanced deal and its aim is to promote growth and the competitiveness of the Greek economy.”
(source: ana-mpa)
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