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Eurogroup Urges Greece to Speed Up Required Reforms

eurogroup-7081Euro zone finance ministers urged Greece to complete the implementation of required reforms by October’s end in order to receive the next bailout tranche.
Friday’s Eurogroup in Bratislava did not go as the Greek side would wish, since creditors asked for faster implementation of reforms, and at the same time denied any talks on lowering the primary surplus target for 2018.
Greece is given a deadline until the end of October to legislate and implement the reforms the Greek government has agreed on. Then, the 2.8 billion euros sub-tranche will be disbursed, according to European Stability Mechanism President Klaus Regling.
Deadline is up at the end of October for Greece to complete the prerequisites to be disbursed in the sub-dose of 2.8 billion Euros, according to the president of ESM Klaus Regling.
Eurogroup President Jeroen Dijsellbloem said in a press conference that a lot of time has been lost from the side of the Greek government for the implementation of the prerequisites. He also said that there will not be any discussion on primary surpluses other than what has been agreed and that there is nothing to new to say on Greek debt relief.
Dijsellbloem said that the prosecution of the former chief of the Hellenic Statistical Authority (ELSTAT) because the government should not challenge the work of the independent authority.
Commissioner for Economic Affairs Pierre Moscovici said that, “we must be strict, but not to dramatize the situation,” saying that Greece may have completed only two of the 15 prerequisites, but that doesn’t mean that the Greek government is not working on the remaining 13.

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