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European Commissioner: Greece Mainly Responsible for Completion of Review

tsakalotos-moscovici_0European Commissioner Pierre Moscovici said that Athens has the main responsibility for the completion of the second review of the bailout program.
Negotiations between Greece and creditors resumed on Monday after summer recess. The Greek government has yet to complete several prerequisites for the disbursement of the next loan tranche amounting to 2.8 billion euros. Creditors have given Greece until the end of October to implement the required measures and reforms for the release of the funds.
The European Commissioner for Economic Affairs is responsible for Greece’s bailout program. His statement came after a question in the European Parliament by SYRIZA MEP Dimitris Papadimoulis, who asked about the issue of Greek debt relief.
Moscovici reiterated the European Commission position that the issue of debt easing will be discussed after the successful completion of the bailout program. Regarding the second program review, he said that it is up to Greece to be completed in a timely manner, and that the European Commission will provide all necessary assistance.
However, the Commissioner said, the European Stability Mechanism is already making efforts to “improve the repayment profile of Greece’s debt and reduce the risk of interest rate,” while noting that the European institutions consider in the medium term a possible extension of the length of loans from the European Financial Stability Facility.

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