The vote by Greece΄s parliament late Sunday in favor of additional austerity measures was a “crucial step” toward winning a second bailout program from its European partners and the International Monetary Fund, European economics affairs Commissioner Olli Rehn said Monday.
However, Rehn said there is still further work to do for the new bailout package to be agreed upon.
“Yesterday΄s vote is a crucial step… toward the adoption of the second program,” he told reporters. “I am confident that the other conditions, including… the identification of the concrete measures of the EUR325 million deal, will be completed by the next meeting of the Eurogroup, which will then decide on the adoption of the program.”
The Eurogroup is expected to meet again on Wednesday, though that is still to be confirmed.
Greek political leaders last week refused to sign up to pension cuts but identified measures to find alternative savings. However there was a EUR325 million shortfall they must still fill.
Late Sunday, the Greek parliament passed additional austerity measures demanded by Europe΄s finance ministers as a requirement for further aid from euro-zone governments and the International Monetary Fund, following mass protests in the Greek capital. Eurozone finance ministers will likely meet here again Wednesday to discuss the country΄s progress.
Speaking shortly afterwards, Rehn’s spokesman said Greece’s political party leaders still needed to give clear commitments that they will stick to the austerity measures agreed upon after an upcoming election.
“We expect to receive clear assurances from political party leaders before they embark on the political campaign for the next election,” spokesman Amadeu Altafaj Tardio said.
(source: capital)
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