The negotiations were tense, but they have accomplished. At the end of the meeting of Ministers of Finance Eurogroup Friday an agreement was finally reached: the aid package to the Greece will be much longer than four months.
“There is an agreement on a text,” announced two European sources, following a meeting of finance ministers of the euro area, the third in 10 days. The Vice-President of the European Commission in charge of the Euro, Valdis Dombrovskis, confirmed on Twitter this agreement, adding that the country will have to present “a comprehensive list reform measures.” “The work on the extension of the Greek program can continue. It is important that Greece meets its commitments,” he insisted.
“On the basis of the application” Greek, “the commitments of the Greek authorities, in the opinion of the institutions” creditor of Athens, and the agreement reached Friday between member countries of the euro zone, “we will launch the procedures to achieve a final decision on the extension” of the current financing plan “for up to four months,” the final communiqué of the Eurogroup .
The expected structural reforms
“Greece has turned a page,” he a government official said, adding that the country had “avoided recessionary measures.”
Greece will present Monday evening structural reforms (the fight against tax evasion, corruption and public administration). They will then be detailed by experts before being discussed at the Eurogroup, said a European source. After intense negotiations, the ministers discussed a Eurogroup draft declaration presented by its President, Jeroen Dijsselbloem, which Greece has agreed.
A decision supported by the US
The United States, who hoped to see Greece stay in the euro area, supported the decision of the Eurogroup. “We believe that the necessary structural reforms and plan for the return of growth are more likely to succeed if Greece remains in the euro zone,” said the spokesman for the State Department, Jennifer Psaki. “We have encouraged Greece to work in cooperation with its European partners and the IMF to address its structural problems,” she added.
VIDEO. Pierre Moscovici welcomed the agreement
VIDEO. How the Greeks react to this agreement?