The European Commission announced today that Greece has successfully committed to the conditions of the memorandum and approved the second loan tranche by Eurozone member states. According to official information the Commission underlined that the Greek Government has imposed so far the majority of the austerity measures in order to curtail the country’s excessive deficit. Consequently they noted a positive overall result as the deficit fell by 46%; quicker and against all predictions.
However there are many challenges for the Greek Government and measures that must be taken during the following year. The Troika expert’s conclusions on the Greek economy are going to be discussed during the Eurogroup’s session on September the 6th and at the ECOFIN Council the following day.
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