“It is a good day today,” European Commissioner for Financial Affairs Pierre Moscovici said in reference to the agreement Greece and creditors reached on Tuesday.
“I am happy to confirm that agreement has been reached on the remaining measures needed to complete the first set of milestones,” Moscovici said at a press briefing in Brussels.
“We expect finalization of the process to take place shortly following the swift adoption of necessary legislation by the Greek Parliament on Thursday,” he added.
The French Commissioner referred to the agreement regarding pricing of generic medicine, the law on the structure of the Financial Stability Fund which, as he said, will contribute to the management of the non-performing loans and will pave the way for the bank recapitalization expected to be completed by the end of 2015.
On the protection of primary residences from foreclosure, Moscovici noted that it was the most crucial part of the deliberations adding that it was very important to establish a ‘reliable framework’ to protect the Greek economy and reiterated that the EU aim is the protection of the financially weaker citizens as well as to face the problem of the ‘strategically bad payers.”
Moscovici said that on Tuesday the Euro Working Group made an evaluation of the progress made and expects the ratification by the Greek parliament on Thursday. After that, the evaluation by the creditors will be completed and pave the way for the necessary decisions by state members to disburse 2 billion euros in financial aid and 10 billion for recapitalizing Greek banks.
At the same time, Eurogroup President Jeroen Dijsellbloem made the following statement on Twitter: “Good news. Substantive agreement between #Greece & institutions. EWG discussed state of play and welcomed the progress made #eurogroup.”
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
