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22.05.2017 - 19: 43

EC: Greece fulfilled its financial obligations to stay in the euro area

Greece fulfilled its obligations under the program of financial assistance, which means that the country is ready to commit itself to stay in the euro area, European Commissioner for Economics and Finance Pierre Moscovici told journalists before the meeting of the Eurogroup.

The Council of Ministers of Finance of the euro area (Eurogroup) on Monday will again discuss the situation with the allocation of Greece loans of international financial support.

The latest actions of the Greek authorities confirm that "they are ready to assume the duties to stay in the euro area," Moskosvisi said.

The Greek parliament last week passed a law that enshrines an agreement with creditors in the framework of the program of financial aid. In particular, it provides for a reduction in 18% of pensions from 2019 year, lower wages, cuts in social benefits and higher taxes, collective dismissals of workers, determines their order and control measures, also reforms in the energy sector, privatization of enterprises and medium-term financial strategy On 2018-2021 years.

"Yes, Greece has fulfilled its duties," Moskosvisi said, adding that it is now up to Greece's partners.

The eurozone funds and the International Monetary Fund are lending to Greece, which is part of the currency block, in order to avoid its default from 2010 already. Now there is a third support program, launched in 2015 year, its volume is more than 80 billion euros. The program, according to its idea, should be completed in the middle of 2018, but two previous programs had to be supplemented, one way or another, with new measures of assistance.

A source: RIA News

Author: Gennady Melnik

Tags: Greece, Economy, European Commission, Reforms, Eurozone, EU